State of Connecticut: How one of the nation’s most affluent states finds itself in a financial bind
by Thomson Reuters.
The recent downgrade in the ratings by Moody’s (Aa3 to A1), Standard & Poor’s (AA to A+) and Fitch (AA- to A+) of the tax-supported debt, appropriations debt and other debt supported by state guarantees reflect Connecticut’s ongoing and increasing structural budgetary deficits. The state continues to struggle from weak job growth and population outmigration. What’s more, it has yet to adopt its budget for the new fiscal year (due July 1, 2017) and is currently operating under executive order.
Read this whitepaper to discover what factors have contributed to Connecticut’s current situation.
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