Financial agency disagrees with Bevin on pension ruling

FRANKFORT, Ky. (AP) — A foremost financial company is disagreeing with Kentucky Gov. Matt Bevin that Kentucky’s credit standing will seemingly be hurt by a newest courtroom ruling invalidating changes to the pension system.

Recordsdata retailers document that Contemporary York-based mostly Fitch Crew acknowledged Thursday the proposed pension changes weren’t primarily the most severe element is grading the dispute’s credit. It acknowledged what matters most is the dispute’s skill to fully fund retirement advantages and discontinue reliance on one-time funds to pay for them.

Bevin warned in December that Kentucky’s low bond ratings will seemingly be downgraded when he known as a surprise particular legislative session on the challenge. Lawmakers ended the session with out taking action.

Final month, Melancholy’s credit company declared the dispute Supreme Court docket ruling a “credit unfavorable” for Kentucky.

A downgrade would make it more costly for the dispute to borrow.

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