When it comes to negative ratings, Connecticut is not alone, according to a latest filing by Standard’s & Poor. It has company in New England.
Connecticut’s outlook is unchanged from prior S&P outlooks in the announcement made today.
Connecticut is currently ranked AA/Negative. Massachusetts has a AA+/Negative rating. New Hampshire is rated AA/Stable as is Maine. Rhode Island also shares that rating. Vermont has the strongest rating at AA+/Stable.
In all, only three states have positive outlooks from S&P, while eight are considered stable. The rest, like Connecticut, are negative.
Two credit agencies revised Connecticut’s rating outlook down to “negative” ahead of a $550 million bond sale scheduled this week.
Moody’s Investors Service and Kroll Bond Rating Agency each announced the actions this week. Moody’s assigned an “Aa3” rating to the upcoming bond sale, and affirmed its previous AA3 rating on the state’s existing general obligation debt.
