...October 28, 2021 NEW YORK (S&P Global Ratings) Oct. 28, 2021--S&P Global Ratings assigned its '##-' long-term rating to the State of Connecticut's $500 million senior-lien special tax obligation (STO) bonds, 2021 series D, while also affirming its '##-' long-term rating on the state's senior-lien STO bonds outstanding. The outlook is stable. The senior STO bonds are secured by a first-lien pledge of revenues deposited into the state transportation fund (STF) before payment of operating expenditures. Pledged revenues credited to and deposited in the STF are derived from the statewide collection of: - Motor fuels tax (including gasoline, special fuels, and motor carrier road taxes); - Oil companies tax; - Specific portions of the general retail sales and use tax, motor vehicle receipts (registration fees for motor vehicles, license, permit, and fee revenue (e.g., fee for license to sell or repair motor vehicles); and - Other receipts, funds, and moneys credited to the STF. In accordance with...
