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Wall Street Upgrades Connecticut Bonds

Connecticut State Capitol. Photo credit: Ronni Newton (we-ha.com file photo)

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.

Click here to read the rest of the article on CTNewsJunkie.com.

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