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New report affirms banking industry stability amid COVID-19 crisis

Kroll Bond Rating Agency praised banks for heeding "lessons learned" from the 2008 economic crash.

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.