Connecticut

Connecticut transferred about $1.5 billion in excess budget reserves to its state employees' and teachers' pensions, said State Treasurer Erick Russell.

Bondholders say the insurers reneged on the bond insurance terms, which both firms deny in filings for the case, filed six years after the COFINA restucturing.

Four hired as counsel and seven other staff members are bulking up the team's D.C. and New York offices. 

The nearly-complete offshore wind power generation project can resume construction while it fights a stop-work order from the Trump administration.

Fitch Ratings joined Moody's in upgrading Connecticut this week as the state prepares to sell $1.8 billion of general obligation bonds.

Analysts credited governance improvements Connecticut put in place in 2018, which have reduced the state's liabilities and improved its reserves. 

From leases for floating wind farms to projects nearly finished with construction, no offshore generation project is safe from the Trump administration.

"This case involves the discovery of a massive Ponzi-like fraud orchestrated by former GHA executive director Robert Cappelletti," plaintiffs GHA and Greater Groton Realty Corp., a non-profit affiliate of the GHA, said in an April court filing. 

New Britain is reaping a rating reward from higher revenues and stronger budgetary practices, including full actuarial funding of its pensions.

Connecticut's governor proposed a new public finance tool as part of a broad plan to improve the state's resiliency against extreme weather and climate change.

The budgeting constraints transformed the state's finances and bond ratings. But critics say the policy's downsides include the stifling of needed investments. 

Principal Street Partners will acquire the bankrupt firm that specialized in high-yield bonds issued for senior living facilities and charter schools.

Connecticut is poised to ramp up transportation borrowing, after years of consistently issuing less debt than it had the capacity and authority to sell.

Supply is slightly lower this week at nearly $10 billion but not by much, with the pace of supply suggesting $500 billion of issuance for the year could still happen, said Tripp Kaiser, a managing director at Municipal Market Analytics, Inc.

Speakers at the LGBTQ+ History Month mixer pushed back against attacks on diversity.

The group, which has grown to more than 100 individuals since its inception in 2019, will host an event featuring Connecticut Treasurer, Erick Russell.

Bettina Bronisz' colleagues say she'll leave a legacy of joy and laughter in the Connecticut Treasurer's office.

Connecticut's GO deal is expected to benefit from its improving fiscal reputation, embodied in two rating outlook revisions to positive ahead of the pricing.

Mr. Fish worked at Bankers Trust Co., Donaldson, Lufkin, & Jenrette and ABN Amro and had served as a chair of the Municipal Analysts Group of New York and been a president of the Society of Municipal Analysts.

An off year from municipal bond issuers in the Northeast in 2023 pulled the national volume numbers into negative territory.