Today, Gov. Andy Beshear announced that his administration has secured a second credit rating increase from a major agency, this time from S&P Global Ratings.
In general, the rating is a measure of the state’s ability to pay debts and the overall health of Kentucky’s economy. The Governor said the increased confidence in Kentucky’s financial outlook will mean lower costs for taxpayers on the state’s investments in critical infrastructure projects, like roads, bridges and schools. It also means that public employee pensions are more secure.