S&P Global Ratings assigned its 'AA-' long-term rating to the State of Connecticut's proposed $218.5 million general obligation (GO) refunding bonds, 2024 series E. The outlook is stable. The 2024 series E bonds constitute general obligations of the state, of which the state has pledged its full faith and credit and taxing power toward repayment. Proceeds from the proposed 2024 series E refunding bonds will be used to refund all or a portion of the state's existing 2014 series D and 2014 series E bonds, which were previously issued to finance general government projects and purposes authorized under various bond acts of the state. The long-term rating reflects our view of Connecticut's robust financial performance, record-high balances in its budget
