Connecticut kept its strong credit rating from Fitch Ratings in the wake of adoption of its $40.1 billion biennial budget.
In one of the first ratings of the state’s ability to borrow and repay its debts since the budget passed earlier this month, Fitch retained assigned a ‘AA’ rating on $327 million of Connecticut’s general obligation bonds expected to hit the market on Friday.
Fitch also affirmed the ‘AA’ rating and assigned a stable outlook on the state’s $13.6 billion outstanding general obligation bonds.
The ratings reflect the state’s “ability to maintain budgetary balance given constrained fiscal flexibility and high liabilities,” Fitch said.
