A semi-annual ranking of states’ credit quality kept Connecticut in the same spot as it was in November.
Hartford investment manager Conning’s “State of the States” report, which employs a proprietary measure of credit quality, said Connecticut ranks 45th. That’s up from 49th in the year-ago report.
Conning said Connecticut ranks among the bottom states in debt per capita, positive change in home values, tax revenue growth and unemployment.
In November, Conning moved Connecticut up four spots from May 2014, from 49th to 45th.
That upgrade was based on strong tax revenue growth.
But that measure was back down again in the recent report. While the state ranked 1st in tax revenue growth in November, it ranked 46th this time.
Connecticut’s unemployment rate also lost the state points, falling from 33rd to 38th in the country.
However, year over year employment growth improved, as did general fund balances as a percentage of expenditures.
North Dakota received first place again while Illinois repeated in last place.
