Summary: Connecticut Connecticut Health&Educational Facilities Authority; General Obligation; General Obligation Equivalent Security

S&P Global Ratings assigned its 'A' rating to the Connecticut Health&Educational Facilities Authority's (Connecticut State University System [CSUS] issue) revenue refunding bonds series R-1 and R-2 (federally taxable). At the same time, S&P Global Ratings affirmed its 'A' rating on the authority's parity debt outstanding issued for CSUS. The outlook is stable. We base the rating on the security provided by the special capital reserve fund (SCRF) and application of our "Issue Credit Ratings Linked To U.S. Public Finance Obligors? Creditworthiness" criteria (published Jan. 22, 2018, on RatingsDirect). We consider this a general operating pledge and in accordance with our criteria, generally rate these obligations on par with our view of the obligor's general creditworthiness, in this case,

...S&P Global Ratings assigned its 'A' rating to the Connecticut Health & Educational Facilities Authority's (Connecticut State University System [CSUS] issue) revenue refunding bonds series R-1 and R-2 (federally taxable). At the same time, S&P Global Ratings affirmed its 'A' rating on the authority's parity debt outstanding issued for CSUS. The outlook is stable. We base the rating on the security provided by the special capital reserve fund (SCRF) and application of our "Issue Credit Ratings Linked To U.S. Public Finance Obligors' Creditworthiness" criteria (published Jan. 22, 2018, on RatingsDirect). We consider this a general operating pledge and in accordance with our criteria, generally rate these obligations on par with our view of the obligor's general creditworthiness, in this case, the State of Connecticut [general obligation (GO) debt (A/Stable)]. Certain other separate state authorities also have bonds secured by the state SCRF. The series R bonds are special obligations of the...

Summary