Standard&Poor's Ratings Services assigned its 'AA-' rating to Connecticut's $350 million special tax obligation bonds series 2003A, reflecting the state's: Strong legal provisions, which limit parity debt issuance, coupled with a fully funded reserve account; Strong, although narrowing, debt service coverage of maximum annual debt service (MADS), with long-term positive trends in pledged revenue receipts; and Continued efforts to maintain a balance between revenue sources and programmatic responsibilities. Credit risks include: A sizable, but well-defined, capital improvement program that includes annual future debt issuance; and A concentrated pledged revenue stream that is, to a degree, susceptible to economic conditions related to changes in the price and availability of motor vehicle fuel. The bonds, which are scheduled to sell
