HARTFORD, Conn. — Wall Street issued a harsh warning to Connecticut policymakers Monday when it placed the ratings of 26 municipalities and three regional school districts under review for a credit downgrade.
In addition, Moody’s Investors Service, one of four Wall Street rating agencies, assigned negative outlooks to ratings of another 25 Connecticut municipalities and three regional school districts and maintains the existing negative outlook on the rating of one town.
The 26 cities and towns and three regional school districts include a mix of urban, suburban, and rural communities including New Haven, Bridgeport, Hamden, South Windsor, Ashford, and Woodstock. All those communities face state funding cuts under the executive order that are equal to the amount of money they have available in their fund balance or cash.
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