Home Tags Moody’s
While one might expect David Lehman to call himself "very positive on Connecticut over the next two years,” he appears to have the data and vision to back that claim up.
“The next step is to continue building a stable foundation for future growth and financial sustainability as we emerge from the Covid crisis," said State Treasurer Shawn Wooden.
Armed with positive remarks by several credit rating agencies and data from a National Association of State Budget Officers survey, the governor said the work done during his first year in office "is showing results, and Wall Street is taking notice."
The credit rating agencies, investors, businesses around the globe, and our taxpayers are watching what we do and have responded positively – so far," the governor said.
Moody’s said this was a welcome development in view of Connecticut’s fiscal problems.
Within Fairfield County, Bridgeport, Shelton and Stratford are the localities under consideration for ratings downgrades.
The city sought the ratings in advance of a $35 million bond sale planned for July 18.
Moody's also downgraded its outstanding ratings on the state’s special tax obligation senior and subordinate lien bonds to A1 from Aa3.
$864 million settlement also resolves federal charges.
Moody's lifts negative outlook as City Council considers transit oriented development downtown
With the state in a precarious fiscal position, Malloy and the General Assembly would do well to re-think the scale of the “Next Generation” proposal to target improvements that can be made without the state having to bond for $1.54 billion in capital upgrades.
12Page 1 of 2