Fitch Ratings has assigned an “A+” rating to an $889.1 million bond package the state of Connecticut plans to sell in August.
The New York debt-rating agency on Thursday said its latest ratings cover $400 million in general obligation (go) bonds, $239.1 million in refunding bonds and $250 million taxable GO bonds. The ratings outlook is stable.
Fitch said the bonds are expected to be sold via negotiation Aug. 15.
Fitch said the bond rating reflects Connecticut’s flat economy, which will challenge the state in “matching revenues to expenditures.”
“The state’s operating performance has suffered from the need to address chronic economic and fiscal challenges throughout the current prolonged period of national economic expansion,” Fitch said. “The rating assumes that the state will continue to proactively manage its challenged financial operations.”
