Kentucky

Moody's Investors Service Thursday said that 11th-hour pension reform by the Kentucky General Assembly on the last day of its 2013 regular session is a credit positive for the Bluegrass State.

Kentucky lawmakers approved reforms to the state pension system that address billions in unfunded liabilities that contributed to rating downgrades.

A bill strengthening financial reporting requirements for Kentucky's 1,200 special taxing districts is headed to the desk of Gov. Steve Beshear.

A bill containing union-backed pension concessions for the city of Lexington, Ky., is headed to the desk of Gov. Steve Beshear.

Kentucky Gov. Steve Beshear has signed House Bill 7, which allows the state's public universities to issue $363.3 million of own bonds secured by specific fees to fulfill pent-up capital needs.

Peabody Energy Corp., which led efforts to develop the mostly bond-financed, joint power agency-owned Prairie State Energy Campus, has received a subpoena from the Securities and Exchange Commission on the coal-fired plant's development.

Kentucky lawmakers are considering union-backed police and fire pension reform measures for the city of Lexington, as well as a bill addressing the state's $30 billion unfunded liability.

Legislation in Kentucky that would cap the amount of debt Kentucky's by the state's general fund appropriations was approved by the Senate State and Local Government Committee last week.

Historically low interest rates last year helped boost bond sales across the Southeast to $63 billion, an increase of 33% over 2011. The surge in debt was propelled by refundings.

Moody's and S&P last week dropped Ohio, Ky.'s $83.3 million of pollution control refunding revenue bonds for Big Rivers Electric Corp. below investment grade.

The Kentucky Office of Financial Management is seeking qualified firms interested in becoming members of the state's finance team for various state agencies.

Kentucky prices $153.5 million of taxable notes Thursday to finance health care benefits owed to the Teachers' Retirement System.

In Lexington, Ky., elected officials and union representatives may have set the stage for a new level of dialogue on how to solve unfunded pension liabilities using a public process and consensus to overhaul the city's police and fire pension system.

Faced with decreased state funding, Kentucky's eight public universities are asking the state for permission to issue their own bonds for pent-up capital needs.

The Kentucky Transportation Cabinet is seeking public input on 20-year plan that will create a strategy for improving the state’s transportation systems.

Investors who hold some of the $4.5 billion of revenue bonds issued for the controversial Prairie State Energy Project can take heart that the project's long-term economics remain favorable for participating public power agencies despite cost overruns, says Moody's Investors Service.

Kentucky and Indiana settle the 2009 federal lawsuit by two nonprofit groups that could have derailed the $2.6 billion Ohio River Bridges Project. A second federal complaint is still pending.

The Indiana Finance Authority finalized its agreement and reached commercial close on a deal with WVB East End Partners to design and build the state's part of the massive bi-state Ohio River Bridges Project.

Tom Howard, Kentucky's executive director of financial management, is retiring Dec. 31 after 23 years of public service.

Kentucky's tax reform commission is recommending 54 changes to the state tax code that would generate about $659 million of new revenue annually if fully implemented.