May 18, 2018 / 8:02 PM / in a month

BRIEF-S&P Says Kentucky ICR Lowered To 'A' On Increased Budgetary Strain; Outlook Stable

May 18 (Reuters) - S&P Global Ratings:

* S&P SAYS KENTUCKY ICR LOWERED TO ‘A’ ON INCREASED BUDGETARY STRAIN; VARIOUS OTHER RATINGS LOWERED; OUTLOOK STABLE

* S&P SAYS LOWERED ITS ISSUER CREDIT RATING ON THE COMMONWEALTH OF KENTUCKY TO ‘A’ FROM ‘A+’

* S&P SAYS KENTUCKY IS MORE VULNERABLE TO FISCAL STRESS DUE TO UNEVEN BUDGETARY MANAGEMENT, WEAKENED RESERVE LEVELS DURING PERIOD OF ECONOMIC EXPANSION

* S&P SAYS LOWERED ITS RATING ON KENTUCKY’S LINKED APPROPRIATION-BACKED OBLIGATIONS TO ‘A-‘ FROM ‘A’

* S&P SAYS STABLE OUTLOOK REFLECTS KENTUCKY’S ENACTED PENSION REFORM, ADOPTED BIENNIUM BUDGET AND TRANSFERRING OF FUNDS TO ITS BUDGET RESERVE TRUST FUND

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