NEW YORK--(BUSINESS WIRE)--Kroll Bond Rating Agency (KBRA) has assigned a long-term rating of AA- with a Stable outlook to the State of Connecticut’s (“the State”) General Obligation Bonds (2017 Series A) and General Obligation Bonds (2017 Series B). Additionally, KBRA has affirmed the long-term rating of AA- with a Stable Outlook on the State of Connecticut’s outstanding general obligation bonds.
KBRA has also affirmed the long-term rating of AA- with a Stable outlook on the State of Connecticut General Fund Obligation Bonds 2014 Series A issued by Connecticut Innovations, Inc. KBRA views the obligation of the State to pay debt service on the 2014 Series A Bonds as tantamount to the general obligation security of the State.
This rating is based on KBRA’s U.S. State General Obligation Rating Methodology. For further information and a full discussion of the key Rating Determinants, please see the State of Connecticut General Obligation Bonds, Series 2015 A and Taxable Series 2015 A report published on March 11, 2015. KBRA’s most recent rating report was published on November 29, 2016.
To view the report, please click here.
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About Kroll Bond Rating Agency
KBRA is registered with the U.S. Securities and Exchange Commission as a Nationally Recognized Statistical Rating Organization (NRSRO). In addition, KBRA is recognized by the National Association of Insurance Commissioners (NAIC) as a Credit Rating Provider (CRP).