NEW YORK--(BUSINESS WIRE)--On March 15, 2018, Kroll Bond Rating Agency (KBRA) assigned a long-term rating of AA- with a Negative Outlook to the State of Connecticut (the “State”) General Obligation Bonds (2018 Series A) and General Obligation Refunding Bonds (2018 Series B).
KBRA also affirmed the long-term rating of AA- with a Negative Outlook on the State’s outstanding General Obligation Bonds and affirmed the long-term rating of AA- with a Negative Outlook on the State of Connecticut General Fund Obligation Bonds 2014 Series A Issued by Connecticut Innovations, Incorporated.
Additionally, KBRA affirmed the short-term rating of K1+ for the State’s General Obligation Bond Anticipation Notes (2017 Series A).
|Issuer:||State of Connecticut (the "State")|
|General Obligation Bonds (2018 Series A)||AA-||Negative||Assigned|
|General Obligation Refunding Bonds (2018 Series B)||AA-||Negative||Assigned|
General Obligation Bond Anticipation Notes (2017 Series A)
|General Obligation Bonds||AA-||Negative||Affirmed|
|Issuer:||Connecticut Innovations, Incorporated 1|
|State of Connecticut General Fund Obligation Bonds 2014 Series A||AA-||Negative||Affirmed|
|KBRA’s long-term ratings do not apply to bonds backed by a letter of credit or liquidity facility, unless otherwise noted.|
|1||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.|
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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 recognized by the National Association of Insurance Commissioners as a Credit Rating Provider and 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.