Connecticut's Series 2018C And D General Obligation Bonds Rated 'A' With A Stable Outlook; Other Ratings Affirmed

NEW YORK (S&P Global Ratings) May 24, 2018--S&P Global Ratings has assigned its 'A' rating to the State of Connecticut's $400 million general obligation (GO) bonds, 2018 series C, and $100 million GO refunding bonds, 2018 series D. At the same time, S&P Global Ratings has affirmed its 'A' rating on approximately $18.1 billion of GO bonds outstanding. In addition, S&P Global Ratings has affirmed its 'A-' rating on state appropriation-backed debt, and its 'BBB' rating on state moral obligation debt. The rating outlook on all debt is stable. The GO rating on Connecticut reflects our view of the following factors: The state's high income levels; A diverse economy; Structural budget balance through fiscal 2019; if a portion of the

...NEW YORK (S&P Global Ratings) May 24, 2018--S&P Global Ratings has assigned its 'A' rating to the State of Connecticut's $400 million general obligation (GO) bonds, 2018 series C, and $100 million GO refunding bonds, 2018 series D. At the same time, S&P Global Ratings has affirmed its 'A' rating on approximately $18.1 billion of GO bonds outstanding. In addition, S&P Global Ratings has affirmed its 'A-' rating on state appropriation-backed debt, and its '###' rating on state moral obligation debt. The rating outlook on all debt is stable. The GO rating on Connecticut reflects our view of the following factors: + The state's high income levels; + A diverse economy; + Structural budget balance through fiscal 2019; if a portion of the budget reserve addition attributed to income tax above the state's volatility cap is considered as ongoing; + Active monitoring of revenues and expenditures to identify and correct midyear budget gaps, as exemplified by midyear budget adjustments made in fiscal...

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