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3 of the 4 Wall Street rating agencies have a ‘negative outlook’ of Connecticut bonds

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HARTFORD, Conn. – All four Wall Street credit rating agencies reaffirmed their bond ratings for Connecticut’s general obligation bonds, but three of the four offered a “negative outlook” on the state’s credit rating in advance of a bond sale.

Moody’s Investor Services and Kroll Bond Rating Agency gave Connecticut bonds on negative outlook. Fitch affirmed its stable outlook, while Standard & Poor’s continued its negative outlook, first put in place in March 2015.

“While we expect the state to solve the budgetary gaps with recurring solutions, we believe that the weakening demographics will continue and place negative pressure on the state’s economy and finances in the next few years, while the very high fixed costs reduce flexibility and present additional challenges,” Moody’s analysts said in a statement.

See the complete story at CT News Junkie.

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