...NEW YORK (S&P Global Ratings) Oct. 13, 2017--S&P Global Ratings has revised its outlook to negative from stable on the State of Connecticut's approximately $19 billion general obligation (GO) debt outstanding. At the same time, S&P Global Ratings has affirmed its 'A+' rating on the GO debt. S&P Global Ratings has also revised its outlook to negative from stable on the state's 'A' rated appropriation-secured debt, and its '###+' rated state moral obligation debt. "The outlook change reflects what we believe to be increasing constraints on Connecticut achieving long-term structural balance, highlighted by the state's delay in enacting a fiscal 2018-2019 biennium budget for the period that began July 1, 2017," said S&P Global Ratings credit analyst David Hitchcock. "These budget constraints include revenue weakness because of slow economic growth and recent population decline and reduced revenue-raising flexibility after substantial tax increases were instituted in the last two biennium budgets,"...
