The Interim Joint Appropriations and Revenue Committee received an update on the state’s bonding indebtedness last month in a report. The report, compiled by Kristi Culpepper with the Legislative Research Commission, highlighted Kentucky’s high levels of debt per capita and dept as a percent of revenues. It also discussed the recent downgrade in Kentucky’s bond rating by both Fitch and Moody’s. Most of this is due to Kentucky’s $28 billion in unfunded liability to Kentucky’s public employee pension system.
This downgrade will ultimately impact the state’s ability to borrow money moving forward.
Be the first to comment on "Report released on state debt"