Research Update: Connecticut Debt Rating Outlook Revised To Positive On Pension Liability Reduction, Budgetary Balance, Reserves

S&P Global Ratings revised the outlook to positive from stable and affirmed its 'AA-' rating on the State of Connecticut ?s general obligation (GO) debt and debt secured by a special capital reserve fund, which we view to be on par with that of the state GO rating as state-supported GO-equivalent securities, including various issues by the Connecticut Housing Finance Authority, the Connecticut Health&Educational Facilities Authority, the University of Connecticut, and the Connecticut Green Bank. Concurrently, we revised the outlook to positive from stable and affirmed our 'AA' rating on the state?s senior-lien special tax obligation (STO) bonds, our 'A+' rating on the state's appropriation-secured debt, and our 'A-' rating on obligations secured by the state?s moral obligation.

...Institutional framework (IF) 2 Individual credit profile (ICP) 2.20 Economy 1.0 Financial performance 2 Reserves and liquidity 1 Management 1.00 Debt and liabilities 6.00...

Research Update