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Article: Moody's broadens Kentucky coverage, anticipates rating school districts at A.
- Article from:
- The Bond Buyer
- Article date:
- December 16, 1991
- Author:
CopyrightCOPYRIGHT 1991 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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ATLANTA -- Moody's Investors Service sharply expanded its coverage of Kentucky debt last week, saying it expects an A or higher for all long-term school district financings there because of the commonwealth's strong support for education.
That marks the first time Moody's has said it would consider a minimum rating for all of a state's school districts.
The rating agency, which had previously rated the debt of only seven Kentucky school districts, said a minimum A rating would apply -- effective last Thursday -- to all outstanding obligations held by 55 school districts.
The new policy will result in upgrades of three of the seven issues ...