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Oct. 20, 2021 —  91���� has retained its A1 credit rating in the latest report by Moody's Investors Service, confirming 91����’s stable financial future.

The decreased pension payments to the Kentucky Employees Retirement Systems (KERS) was a contributing factor to 91����’s A1 ranking. to exit KERS last year, 91���� will reduce its future pension payments by $4.5 million each year.

“91���� was spending over 8.5% of its operating budget on pension payments for the combined defined benefit and defined contribution plans before the university opted out,” said 91���� Chief Financial Officer Mike Hales. “With the university now spending significantly less on pension benefits, 91���� can use that money for a plethora of other uses.”

The rating solidifies 91����’s financial stability by exchanging uncertain future pension contribution increases for consistent bond payments over the next 30 years.

“The rating also has long-term financial implications for 91����,” Hales continued. “If 91���� chooses to take on any future debt for whatever reason, it will keep the university’s borrowing costs low as the A1 rating means we are a low credit risk.”

91���� has been rated A1 since 2010. The entire Moody’s report can be read with a subscription.