Hartford, CT Series 2023 Special Obligation Refunding Bonds Rated ?AA-?; Outlook Is Stable

NEW YORK (S&P Global Ratings) April 6, 2023--S&P Global Ratings assigned its 'AA-' long-term rating to the City of Hartford, Conn.'s approximately $126 million special obligation refunding bonds (state contract assistance), series 2023, issued by the city pursuant to terms a contract for financial assistance with the State of Connecticut. At the same time, we affirmed our 'AA-' rating on $383.3 million of the city's general obligation (GO) debt outstanding, paid by payments made by the state under the contract for financial assistance agreement, which we view to be on par with that of the state GO rating. In addition, we affirmed our 'AA-' long-term rating on the state's GO debt outstanding. We also affirmed our 'AA-/A-1' dual-rating on the

...April 6, 2023 NEW YORK (S&P Global Ratings) April 6, 2023--S&P Global Ratings assigned its '##-' long-term rating to the City of Hartford, Conn.'s approximately $126 million special obligation refunding bonds (state contract assistance), series 2023, issued by the city pursuant to terms a contract for financial assistance with the State of Connecticut. At the same time, we affirmed our '##-' rating on $383.3 million of the city's general obligation (GO) debt outstanding, paid by payments made by the state under the contract for financial assistance agreement, which we view to be on par with that of the state GO rating. In addition, we affirmed our '##-' long-term rating on the state's GO debt outstanding. We also affirmed our '##-/A-1' dual-rating on the state's series 2016C GO bonds and Capital Region Development Authority's series 2004B bonds, with liquidity support provided by Bank of America. We also affirmed 'A+' rating on the state's appropriation-secured debt and our 'A-' rating...

Ratings Action