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
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S&P worried about proposed cost shift onto CT towns
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.”
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S&P warns CT: Surging debt costs could lower bond rating
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.
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CT’s fiscal woes could mean higher municipal borrowing costs
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.