Connecticut's Series 2016A And D Bonds Rated 'AA-' With A Stable Outlook; State GO Debt Rating Affirmed At 'AA-'

NEW YORK (S&P Global Ratings) July 15, 2016--S&P Global Ratings has assigned its 'AA-' rating to the State of Connecticut's $250 million general obligation (GO) bonds, 2016 series D, and $250 million taxable GO bonds, 2016 series A. At the same time, S&P Global Ratings affirmed its 'AA-' rating on Connecticut's GO debt outstanding, its 'A+' rating on the state's appropriation-secured debt, and its 'A-' moral obligation debt rating. The outlook is stable. The GO rating on Connecticut reflects our view of the following factors: High wealth and income levels; A diverse economy, whose performance has been cyclical; Ongoing revenue and expenditures that remain near structural alignment; Active monitoring of revenues and expenditures to identify and correct midfiscal year budget

...NEW YORK (S&P Global Ratings) July 15, 2016--S&P Global Ratings has assigned its '##-' rating to the State of Connecticut's $250 million general obligation (GO) bonds, 2016 series D, and $250 million taxable GO bonds, 2016 series A. At the same time, S&P Global Ratings affirmed its '##-' rating on Connecticut's GO debt outstanding, its 'A+' rating on the state's appropriation-secured debt, and its 'A-' moral obligation debt rating. The outlook is stable. The GO rating on Connecticut reflects our view of the following factors: + High wealth and income levels; + A diverse economy, whose performance has been cyclical; + Ongoing revenue and expenditures that remain near structural alignment; + Active monitoring of revenues and expenditures to identify and correct midfiscal year budget gaps, as exemplified by midyear budget adjustments made for fiscal years 2015, 2016, and 2017; and + Adequate operating liquidity, which has improved following the state's move to budgeting based on generally...

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