May 30, 2024

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Connecticut receives GO ratings boost from Kroll

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Connecticut receives GO ratings boost from Kroll

The Kroll Bond Rating Agency upgraded Connecticut’s long-term general obligation rating to AA-plus from AA on Thursday.

The upgraded rating continues Kroll’s stable outlook and reflected Connecticut’s “strong credit profile and significant and continuing progress in improving its financial position over the last six fiscal years,”  to sell $710 million of GO bonds the week of May 29.

KBRA said it believed the legislation’s smooth passage signaled a “broad continuing support” among government for the state’s healthy financial practices.

Over the last two years, Connecticut’s seen several rounds of upgrades from major rating agencies, including a boost to its GO rating to AA-minus from A-plus with a positive outlook from S&P Global Ratings in November.