Despite legislative approval of a bipartisan state budget, a major Wall Street credit rating agency warned Friday municipalities still will struggle to get affordable credit.
S&P Global Ratings warned Thursday that Gov. Dannel P. Malloy’s proposals to shift one-third of the cost of the teachers’ pension program onto cities and towns, and to realign other grants, “creates budgetary uncertainty for local governments.”
While legislators learned Wednesday how surging debt costs would hamper the next state budget, a major Wall Street credit rating agency downgraded its outlook for Connecticut for the same reason.
A major Wall Street credit rating agency warned Thursday that Connecticut’s state budget woes and “dim economic growth” could make it more costly for its cities and towns to get credit.