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MOODY'S CONFIRMS 'A' RATING FOR KENTUCKY TURNPIKE AUTHORITY ECONOMIC DEVELOPMENT ROAD REVENUE BONDS

 MOODY'S CONFIRMS 'A' RATING FOR KENTUCKY TURNPIKE AUTHORITY
 ECONOMIC DEVELOPMENT ROAD REVENUE BONDS
 NEW YORK, June 22 /PRNewswire/ -- Moody's Investors Service has confirmed the "A" rating assigned to the Kentucky Turnpike Authority's economic development road revenue bonds in connection with the sale, expected June 30, of approximately $320 million road revenue refunding bonds (revitalization projects), series 1992.
 Adequate protection for bondholders is provided from biennially renewable leases with the state Transportation Cabinet. Transportation Fund revenues continue to grow, albeit at a slower rate, while net available revenues are reduced, reflecting increases in operating expenditures.
 -0- 6/22/92
 /CONTACT: George Leung, 212-553-0342, or James Dearborn, 212-553-1910, both of Moody's/ CO: Kentucky Turnpike Authority ST: Kentucky IN: SU: RTG


GK-LR -- NY035 -- 2362 06/22/92 11:44 EDT
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Publication:PR Newswire
Date:Jun 22, 1992
Words:127
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