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

S&P Global Ratings has assigned its 'A+' rating and negative outlook to the State of Connecticut's $450 million taxable general obligation (GO) bonds (2017 series A). At the same time, S&P Global Ratings has affirmed its 'A+' rating on the state's approximately $18 billion of GO debt outstanding, its 'A' rating on state appropriation-secured debt, and its 'BBB+' rating on state moral obligation debt. The outlook on all long-term debt is negative. S&P Global Ratings has also assigned its 'SP-1+' short-term rating to Connecticut's series 2017A $400 million GO bond anticipation notes (BANs), due Sept. 14, 2018. The BANs are also secured by a GO pledge, but are expected to be retired from proceeds of a future long-term GO bond

...S&P Global Ratings has assigned its 'A+' rating and negative outlook to the State of Connecticut's $450 million taxable general obligation (GO) bonds (2017 series A). At the same time, S&P Global Ratings has affirmed its 'A+' rating on the state's approximately $18 billion of GO debt outstanding, its 'A' rating on state appropriation-secured debt, and its '###+' rating on state moral obligation debt. The outlook on all long-term debt is negative. S&P Global Ratings has also assigned its 'SP-1+' short-term rating to Connecticut's series 2017A $400 million GO bond anticipation notes (BANs), due Sept. 14, 2018. The BANs are also secured by a GO pledge, but are expected to be retired from proceeds of a future long-term GO bond issue. The GO rating on Connecticut reflects our view of the following factors:...

Summary