Moody's raises Kentucky Public University Intercept Program to Aa3

Moody's Investors Service said it upgraded the programmatic rating of the Kentucky Public University Intercept Program to Aa3 from A1, affecting about $169 million of debt. The outlook is stable.

That is one notch below the state's general obligation bond rating of Aa2. Going forward, Moody's said it expects the program's rating to remain one notch below the state's G.O. rating.

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