Connecticut

Still dusting themselves off from last year’s budget chaos, Gov. Dannel Malloy and Connecticut lawmakers reconvene to grasp a glaring transportation fund crisis.

Moody's revised its outlook on Connecticut's capital to developing from negative, pending the city's application for a state workout program.

The $10,000 limit on deductions for state and local taxes could pose a long-term threat to Connecticut, New Jersey and New York, according to credit analysts.

The increasing saturation of the Northeast market with casinos bodes poorly for states expecting tax windfalls, analysts said.

Moody's Investors Service said on Thursday that it downgraded the city of Waterbury, Conn.’s outstanding general obligation debt to A2 from A1. The outlook remains stable.

A state official cited the need to have special tax obligation bonds rated "on the bonds' own merits," distinct from the state's GOs.

Gov. Dannel Malloy urged lawmakers to replenish the Special Transportation Fund.

The Democrat and former Hartford city treasurer said Wednesday her administration “restored integrity and public confidence in the office of state treasurer."

The state issued the notes in 2009 to cover operating expenses when its rainy-day fund was depleted.

The Connecticut governor cited recent changes to the state employee pension system as a parallel.

A limited tax base and heavy legacy obligations have hamstrung the city, according to the rating agency.

Urban planners argue for the unlocking of public assets through an asset trust, an idea largely untested in the U.S.

The rating agency will continue to monitor financial developments in Connecticut's capital city.

Alternative strategies include general obligation borrowing to offset limited bonding capacity in the special transportation fund.

Only weeks after Gov. Dannel Malloy signed a fiscal 2018 budget, the state has a new round of fiscal crises.

In its third and final meeting of the year, the State Bond Commission on Wednesday approved capital projects totaling about $1.2 billion, including $500 million for school construction projects throughout Connecticut.

The state’s Bond Commission on Wednesday approved $4.01 million in funding the Connecticut Port Authority had requested for harbor improvements.

The Regional Plan Association recommends congestion pricing, infrastructure banks, public benefit corporations, a regional rail system and an end to 24-hour New York subway service.

Thomas Hamilton, Scott Jackson and Jay Nolan will join the nascent board that will intervene in and assist with municipal distress cases.

It's the second try for Connecticut's capital city, which last year fired a contractor over cost overruns and delays.