Summary: Lexington-Fayette Urban County Government Public Facilities Corp. Kentucky; Appropriations; General Obligation Jun 11

Standard & Poors, June 2011

Abstract
Standard & Poor's Ratings Services assigned its 'A+' long-term rating to Lexington-Fayette Urban County Government (Lexington-Fayette UCG), Ky.'s public facilities revenue bonds, series 2011A (Eastern State Project), supported by the Commonwealth of Kentucky. Standard & Poor's also affirmed its 'AA-' issuer credit rating on Kentucky and its 'A+' rating on the state's appropriation debt. The rating reflects our view of the risks associated with lease appropriation debt and the general creditworthiness of Kentucky. The outlook is stable. We understand that bond proceeds of about $140 million will be used to fund approximately $64.6 million in construction costs, $65 million will be used to take out the series 2010E bond anticipation notes issued by Lexington-Fayette UCG in July 2010 for initial...

Companies mentioned in this report are: Kentucky,Lexington-Fayette Urban Cnty Govt Pub Fac Corp
Action: Affirmed
Action: New Rating

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This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

Kentucky,Lexington-Fayette Urban Cnty Govt Pub Fac Corp

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