...S&P Global Ratings has assigned its 'A+' rating and negative outlook to the State of Connecticut's $250 million general obligation (GO) bonds (2018 series A) and $367 million GO refunding bonds (2018 series B). At the same time, S&P Global Ratings has affirmed its 'A+' rating on the state's approximately $18.5 billion of GO debt outstanding, its 'A' rating on state appropriation-secured debt, and its '###+' rating on state moral obligation debt. The outlook on all long-term debt is negative. The GO rating on Connecticut reflects our view of the following factors: + The state's high income levels; + A diverse economy; + Near structural budget balance, assuming in the next biennium the state reauthorizes a recent hospital tax, carries forward current flat funding of aid to local governments, and economic growth aligns with current projections; + Active monitoring of revenues and expenditures to identify and correct midyear budget gaps, as exemplified by midyear budget adjustments made in...
