Fitch has assigned an ‘AA’ rating to approximately $2 billion in State of Connecticut taxable general obligation teachers’ retirement fund bonds.
The bonds are scheduled to sell via negotiation during the week of April 14. The bonds now offered will consist of series 2008A-current interest bonds, and series 2008B-capital appreciation bonds, with final par amounts for each series to be determined upon final negotiation.
The teachers’ retirement system bonds carry the state’s full faith and credit pledge, and are being issued pursuant to legislation enacted last year authorizing a $2 billion deposit to TRS as part of a larger plan to address the system’s underfunding.
