BRADENTON, Fla. - Louisville, Ky.'s KFC Yum! Center sports arena suffered another blow when Standard & Poor's dropped its underlying rating on the arena's bonds to junk-level BB from investment-grade BBB-minus.

The two-notch downgrade affects about $399 million of Series 2008A-1, A-2, and 2008B of senior project revenue bonds issued for the Louisville Arena Authority Inc. by the Kentucky Economic Development Finance Authority.

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