NEW YORK–(BUSINESS WIRE)–Kroll Bond Rating Agency (KBRA) assigns a long-term rating of AA- and Stable outlook to the State of Connecticut General Obligation Refunding Bonds (2019 Series B). Additionally, KBRA affirms the long-term rating of AA- on the State’s outstanding General Obligation Bonds as well as the long-term rating of AA- on the State of Connecticut General Fund Obligation Bonds 2014 Series A issued by Connecticut Innovations, Incorporated. The outlook for the affirmed ratings is revised to Stable from Negative.
Issuer: State of Connecticut
General Obligation Refunding Bonds
(2019 Series B)
General Obligation Bonds
Issuer: Connecticut Innovations, Incorporated
State of Connecticut General Fund Obligation Bonds 2014 Series A
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
A detailed report to follow.
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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. KBRA is also 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.
Paul Kwiatkoski, Managing Director
Patricia McGuigan, Director
Peter Scherer, Associate