A major Wall Street credit rating agency warned Wednesday that federal tax changes could undermine Connecticut cities and towns’ property tax receipts. Continue Reading →
Wall Street firm says federal tax limits could hurt CT towns
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Moody’s Investors Service
Recent Posts
Wall Street firm applauds CT debt aid to Hartford
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A major Wall Street credit-rating agency, Moody’s Financial Services, has upgraded Hartford’s bond rating in response to a new state plan to retire the capital city’s bonded debt. Continue Reading →
Filed under: Budget/Economy, Economic Development, Politics, Regional Planning, Urban Development, Hartford, Luke Bronin, Moody's Investors Service
Wall Street firm: CT schools ruling helps state, hurts cities
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A major Wall Street rating agency said the recent Connecticut Supreme Court ruling that the state provides at least a minimally adequate education in all school districts is a “credit positive” for state government, but a “negative” for its largest cities. Continue Reading →
Filed under: Budget/Economy, K-12, Schools/Child Welfare, bonding, Moody's Investors Service, Wall Street
Budget fight threatens credit for a third of CT municipalities
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Moody’s Investors Service announced measures that could lead to lower bond ratings — and higher interest costs — for 51 municipalities and six regional school districts, affecting nearly $7 billion in outstanding debt. Continue Reading →
Filed under: Budget/Economy, budget2017, COST, Moody's Investors Service, Wall Street
Moody’s adds to Connecticut’s woes on Wall Street
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For the fifth time in the past year — and for the second in two business days — a Wall Street credit rating agency downgraded Connecticut’s status. Moody’s Investors Service lowered the state’s General Obligation bond rating Monday from Aa3 to A1, potentially raising the cost of borrowing. Continue Reading →
Filed under: Budget/Economy, Moody's Investors Service, Wall Street
Wall Street agency warns CT budgets will be bleak for years
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A major Wall Street credit rating agency warned investors Wednesday that Connecticut’s weak economy and surging retirement benefit costs are likely to plague state budgets and test the state’s fiscal management for several years to come. Continue Reading →
Filed under: Budget/Economy, Labor, budget2017, Connecticut state budget, Moody's Investors Service, pensions, Wall Street
Wall Street agency gives CT pension deal a ‘credit positive’
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Moody’s Investors Service, one of the four major credit rating agencies, labeled the proposal negotiated by Gov. Dannel P. Malloy’s administration and state union leaders as a “credit positive” for Connecticut in the agency’s weekly credit outlook statement. Continue Reading →
Filed under: Budget/Economy, Moody's Investors Service, pension, SEBAC, state employees retirement system, Wall Street
Moody’s: School funding reform would boost cities’ credit standing
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A major Wall Street credit rating agency weighed in on Connecticut’s school funding crisis this week, saying an overhaul would improve the credit standing of the state’s poorest cities. Continue Reading →
Filed under: Budget/Economy, Higher Education, K-12, Schools/Child Welfare, Bridgeport, CCJEF, ECS, education cost sharing
Labor costs, tax receipts, threaten new CT budget before it starts
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With Connecticut’s new fiscal year set to begin Friday, serious issues — involving both spending and revenue — have arisen in recent weeks that challenge state government’s new spending plan before it’s even begun. And a major Wall Street credit rating agency questioned Monday whether Connecticut’s fiscal house is in order. Continue Reading →
Filed under: Budget/Economy, Labor, Politics, Connecticut state budget, layoffs, Moody's Investors Service, sales tax, state income tax
New CT budget contributes to credit downgrades from Wall Street
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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. Continue Reading →
Filed under: Budget/Economy, Politics, bonding, Budget2016, Connecticut state budget, Denise L. Nappier, Fitch Ratings Inc., Kroll
Most Wall Street agencies have ‘negative outlook’ on CT finances
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Three of Wall Street’s four major credit rating agencies have assigned a “negative outlook” to Connecticut’s bond rating — a warning that the state could face a downgrade, and higher borrowing costs in the next year or two. Continue Reading →
Filed under: Budget/Economy, bonding, Denise L. Nappier, Fitch Ratings Service, Kroll Bond Rating, Moody's Investors Service, Standard & Poor's, Wall Street
Moody’s: GE’s departure ‘underscores’ Connecticut’s fiscal, economic woes
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While the partisan debate over GE’s departure from Connecticut continues, a major Wall Street rating agency sees a correlation between the move and the state’s ongoing fiscal and economic woes. Moody’s Investors Service cited the impending move as it issued a “credit negative” — not a formal rating downgrade — but rather a public statement about a development that could harm Connecticut’s financial standing in the long run. Continue Reading →