For Immediate Release
08/06/02
Contact: Jill Midkiff (502) 564-4240 or Terry Sebastian (cell: 502-682-9405) at (502) 564-2611  

Patton: Kentucky removed from Moody’s credit ratings watchlist

FRANKFORT, Ky. - Kentucky Governor Paul E. Patton issued the following statement in response to news that the Commonwealth of Kentucky has been removed from Moody’s Investors Service watchlist for possible downgrade. Kentucky was placed on rating watch by Moody’s on June 10, 2002.  

 “I am encouraged that Moody’s has expressed confidence that state government operations will not be interrupted under the executive spending plan. I believe that placing Kentucky on credit watch was largely a cautionary move for Moody’s, and I am pleased that this watch has been lifted. Moody’s has witnessed that state government continues to pay all government expenses, including debt service, and that essential services have been unaffected by the lack of legislatively enacted budget.” 

A copy of the release issued today by Moody’s is available on the rating agency’s Web site at: http://www.moodys.com/moodys/cust/research/genoa/Report/Rating%20Update/600024537/2001500000387149.asp?namedEntity=Rating+Update  

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