Moody's said that it will not downgrade Kentucky's credit rating despite a recent federal bankruptcy decision that could cost the state nearly $1 billion over 20 years, The Associated Press reported today. The credit-rating agency said that Kentucky has enough resources to manage the added expenses caused by a judge's decision to let a private Louisville community mental health center leave the Kentucky Employees Retirement System without paying its share of the $17.1 billion unfunded liability. Kentucky Retirement Systems is appealing the judge's ruling.
