Standard&Poor's Ratings Services assigned its 'AA' long-term rating, a stable outlook, to Connecticut's senior-lien special tax obligation bonds, series 2008A, being issued for transportation-related projects. At the same time, we affirmed the 'AA' long-term ratings on Connecticut's special tax obligation senior- and second-lien parity bonds. Since the legal structure of the second-lien bonds is in many ways similar to the senior-lien bonds (including a 2x times debt service coverage and additional bonds requirement), and coverage is good, Standard&Poor's does not make a rating distinction between senior- and second-lien bonds outstanding. It is our understanding that bond proceeds will be used to finance a portion of the transportation infrastructure program. The ratings are based on our opinion
