The rating upgrade will help lower borrowing costs for projects and services across the state, potentially resulting in millions of dollars of savings for taxpayers.
By Christine Stuart, CTNewsJunkie.com
S&P Global Ratings upgraded Connecticut’s general obligation bonds from A+ to AA-. At the same time it upgraded Connecticut’s special tax obligation bonds for transportation from AA- to AA and the University of Connecticut bonds from A+ to AA-.
The news comes a year after all four major credit rating agencies upgraded Connecticut’s general obligation bonds. S&P Global Ratings also maintained Connecticut’s “stable” outlook.
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