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KBRA Releases Report Assigning AA- Rating with a Negative Outlook to the State of Connecticut GO Bonds and Taxable GO Bonds (2019 Series A)
[March 21, 2019]

KBRA Releases Report Assigning AA- Rating with a Negative Outlook to the State of Connecticut GO Bonds and Taxable GO Bonds (2019 Series A)


On March 18, 2019, Kroll Bond Rating Agency (KBRA) assigned a long-term rating of AA- with a Negative Outlook to the State of Connecticut General Obligation Bonds (2019 Series A) and Taxable General Obligation Bonds (2019 Series A). Additionally, KBRA affirmed the long-term rating of AA- and Negative Outlook on the State's outstanding general obligation bonds as well as the long-term rating of AA- and Negative Outlook on the State of Connecticut General Fund Obligation Bonds 2014 Series A issued by Connecticut Innovations, Incorporated.





Issuer: State of Connecticut
Assigned   Rating   Outlook
General Obligation Bonds (2019 Series A)   AA-   Negative
Taxable General Obligation Bonds (2019 Series A)   AA-   Negative
Affirmed   Rating   Outlook
General Obligation Bonds   AA-   Negative
Issuer: Connecticut Innovations, Incorporated
Affirmed   Rating   Outlook
State of Connecticut General Fund Obligation Bonds 2014 Series A   AA-   Negative
   

The rating actions are based on KBRA's U.S. State General Obligation Rating Methodology and an assessment to the following rating determinants identified therein:

  • Management Structure, Budgeting Practices and Policies
  • Debt and Additional Continuing Obligations
  • Financial Performance and Liquidity Position
  • State Resource Base

To access the report, click here.

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About KBRA and KBRA Europe

KBRA is a full service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. In addition, KBRA is designated as a designated rating organization by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus, is recognized by the National Association of Insurance Commissioners as a Credit Rating Provider, and is a certified Credit Rating Agency (CRA) by the European Securities and Markets Authority (ESMA). Kroll Bond Rating Agency Europe Limited is registered with ESMA as a CRA.


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