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Oct. 20, 2021 —  ���������ϲʼ�¼���� has retained its A1 credit rating in the latest report by Moody's Investors Service, confirming ���������ϲʼ�¼����’s stable financial future.

The decreased pension payments to the Kentucky Employees Retirement Systems (KERS) was a contributing factor to ���������ϲʼ�¼����’s A1 ranking. to exit KERS last year, ���������ϲʼ�¼���� will reduce its future pension payments by $4.5 million each year.

“���������ϲʼ�¼���� was spending over 8.5% of its operating budget on pension payments for the combined defined benefit and defined contribution plans before the university opted out,” said ���������ϲʼ�¼���� Chief Financial Officer Mike Hales. “With the university now spending significantly less on pension benefits, ���������ϲʼ�¼���� can use that money for a plethora of other uses.”

The rating solidifies ���������ϲʼ�¼����’s financial stability by exchanging uncertain future pension contribution increases for consistent bond payments over the next 30 years.

“The rating also has long-term financial implications for ���������ϲʼ�¼����,” Hales continued. “If ���������ϲʼ�¼���� chooses to take on any future debt for whatever reason, it will keep the university’s borrowing costs low as the A1 rating means we are a low credit risk.”

���������ϲʼ�¼���� has been rated A1 since 2010. The entire Moody’s report can be read with a subscription.