Connecticut 2021A GO Bonds Assigned 'A' Rating; Other Ratings Affirmed

NEW YORK (S&P Global Ratings) Dec. 7, 2020--S&P Global Ratings assigned its 'A' long-term rating to the State of Connecticut's series 2021A general obligation (GO) bonds. At the same time, we affirmed our 'A' long-term rating and underlying rating (SPUR) on the state's GO debt outstanding and our 'A/A-1' rating on its series 2016C (GO) and 2004B (contact assistance) bonds, our 'A-' rating on state appropriation-backed debt, and our 'BBB' rating on its moral obligation debt. The outlook on all the ratings is stable. Connecticut is issuing approximately $800 million series 2021A bonds to fund various capital projects throughout the state. The bonds are GOs of the state for which its full faith and credit have been pledged for repayment

...December 7, 2020 NEW YORK (S&P Global Ratings) Dec. 7, 2020--S&P Global Ratings assigned its 'A' long-term rating to the State of Connecticut's series 2021A general obligation (GO) bonds. At the same time, we affirmed our 'A' long-term rating and underlying rating (SPUR) on the state's GO debt outstanding and our 'A/A-1' rating on its series 2016C (GO) and 2004B (contact assistance) bonds, our 'A-' rating on state appropriation-backed debt, and our '###' rating on its moral obligation debt. The outlook on all the ratings is stable. Connecticut is issuing approximately $800 million series 2021A bonds to fund various capital projects throughout the state. The bonds are GOs of the state for which its full faith and credit have been pledged for repayment of principal and interest. "We view the state as being in a relatively strong position in fiscal 2021 after weathering the immediate fiscal shocks of the pandemic earlier this year," said S&P Global Ratings credit analyst Timothy Little. Entering...

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