Summary: Connecticut; Appropriations; General Obligation; General Obligation Equivalent Security; Moral Obligation

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 budget reserve addition attributed to income tax

...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, assuming pension actuarial assumptions are realized, the federal government approves reimbursement for a recent hospital tax, and economic growth aligns with current projections. However, the state...

Summary