Hartford investment management firm Conning said Tuesday that Connecticut’s credit quality remains among the lowest in the country.
In its biannual “State of the States” report, Conning ranked Connecticut’s credit quality 47th in the country, down from 46th in its May ranking and back to where it was a year ago.
Conning, which buys government bonds, said it intends to focus its investments in states that rank high on the list, generally including those in the Pacific Northwest, Mountain and Southeastern regions of the country.
Rounding out the bottom five with Connecticut were New Mexico, Mississippi, West Virginia, and Illinois, which ranked 50th.
Conning uses a variety of economic metrics to generate the ranking. As compared to other states, since May, Connecticut saw declines in its rankings for net pension liability, GDP growth, unemployment rate and population growth, according to the new report.
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