Standard & Poor's Ratings Services said it has revised its outlook to negative from stable and affirmed its AA-minus issuer credit rating and A-plus appropriation-backed debt rating on the commonwealth of Kentucky.

Standard & Poor's also assigned its A-plus long-term rating, with a negative outlook, to Kentucky Asset Liability Commission (ALCo)'s funding notes, 2013 general fund first series (taxable), supported by the commonwealth of Kentucky.

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