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.
Moody’s Investors Service
Posted inMoney, Politics
Moody’s: GE’s departure ‘underscores’ Connecticut’s fiscal, economic woes
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.