Connecticut’s status on Wall Street took another hit Friday when a major credit rating agency downgraded the state’s bond rating — a move that could lead to higher borrowing costs.
Fitch Ratings Inc.
Posted inMoney, Politics
New CT budget contributes to credit downgrades from Wall Street
The new state budget’s ability to mitigate longstanding fiscal problems got poor marks Thursday on Wall Street as two of the four major rating agencies downgraded Connecticut’s credit ranking — probably boosting borrowing costs in the future.