...NEW YORK (Standard & Poor's) March 9, 2016--Standard & Poor's Ratings Services has assigned its '##' rating and negative outlook to the State of Connecticut's $550 million general obligation (GO), 2016 series A bonds. At the same time, Standard & Poor's has affirmed its '##' rating on the state's GO debt outstanding, its '##-' rating on state appropriation-secured debt, and its 'A' rating on Connecticut's moral obligation debt outstanding. The outlook on all debt is negative. The '##' rating reflects what we view as Connecticut's: + High wealth and income levels; + Diverse economic base, which has experienced cyclical performance over time; + Ongoing revenues and expenditures that are near structural alignment, assuming the governor's recommended mid-biennium cuts are enacted; + Active monitoring of revenues and expenditures to identify and correct mid-fiscal year budget gaps, as exemplified by midyear budget adjustments made in fiscal years 2015 and 2016, and proposed for fiscal 2017;...
