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Rating agency gives mixed analysis on NY and CT’s general obligation...

Connecticut was faulted for "increasing budgetary burdens for debt service, pension contributions, and Medicaid." *** New York “continues to face budgetary pressure, with budget gaps forecast in the general fund, prior to savings from adherence to the 2% spending benchmark.”

Kroll downgrades state’s credit rating

Standard & Poor's and Fitch have also downgraded the state, while Moody's maintains a negative outlook.