Clubs and Organizations
July 27, 2017
Moody’s has downgraded Kentucky’s credit rating because of the low funding level of the state’s pension systems and lackluster revenue gleaned from taxes, WVXU reports.
The news comes after the state missed its own revenue prediction by $135 million at the end of the last fiscal year, which finished on June 30.
“The downgrade reflects revenue underperformance that will challenge the commonwealth’s