July 21, 2017 / 1:56 AM / 2 months ago

BRIEF-Moody's downgrades Kentucky's issuer rating to Aa3 from Aa2

July 20 (Reuters) - Moody’s on Kentucky:

* downgrades Kentucky to Aa3; outlook stable

* Moody’s on Kentucky says stable outlook reflects economic stability and a manageable structural imbalance

* Moody’s on Kentucky says downgrade reflects revenue underperformance that will challenge commonwealth’s ability to increase its very low pension funding levels

* Moody’s on Kentucky says commonwealth’s high fixed costs will also restrict fiscal flexibility

* Moody's says downgraded commonwealth of Kentucky's issuer rating to Aa3 from Aa2 Source bit.ly/2uEY5IB

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