Connecticut

Gov. Dannel Malloy said he would devote the rest of his term to patching up Connecticut's economy.

ORANGE, Conn. -- The Board of Selectmen this week scheduled a referendum for April 18 so residents can vote on securing bonding to finance $14.9 million for 14 capital improvements to schools, the police station, roads and town buildings.

The State of Connecticut (Aa3 negative) is grappling with challenges to its financial sustainability as growing expenses from unfunded pension liabilities, retiree health care costs, and bonded debt place pressure on the state's credit quality, Moody's Investors Service says in a new report.

Connecticut's $743.4 million general obligation bond sale attracted $186 million in retail orders, according to state Treasurer Denise Nappier's office.

Connecticut will sell $750 million of general obligation bonds in a deal that includes a $200 million refunding.

Hartford Mayor Luke Bronin's State of the City speech acknowledged progress over the past year, even as large deficits hover over Connecticut's capital.

Hartford, Conn., on the brink of insolvency, received a lifeline when three major city-based insurance companies pledged a combined $50 million over five years.

Rising fixed costs and declining revenue will make balancing Connecticut Gov. Dannel Malloy's proposed $40.6 billion biennial budget a chore, said S&P.

Municipal bond issuers in the Northeast sold $116.4 billion of debt in 2016, according to Thomson Reuters data, a 13% increase that echoed a national trend.

Connecticut Gov. Dannel Malloy’s $40.6 billion biennial budget measures aim to closing a $1.7 billion annual deficit. He also wants to tax hospital properties for the first time.

Lt. Gov. Nancy Wyman's vote breaks a tie as Connecticut lawmakers pass bill that lowers the assumed rate of return on pensions and restructures payments.

Connecticut's agreement with labor unions to change various pension funding assumptions has a mildly positive credit effect on the state, said S&P.

Capital Hartford is veering out of control toward bankruptcy and needs help from a state already wobbly, said a Manhattan Institute report on Connecticut’s poorest cities.

So-called intervention bankruptcy – combining federal and state resources – could help governments manage municipal insolvency, said a Manhattan Institute report.

The University of Connecticut intends to sell $335 million in GO bonds to fund capital projects that include relocating its Greater Hartford campus.

Connecticut must enact pension system overhaul that balances fiscal responsibility and retirees’ needs, Gov. Dannel Malloy said in his State of the State speech.

Hartford, Conn.'s four-year contract firefighters will save the teetering city millions, said Mayor Luke Bronin.

Connecticut's pension commission OK'd a deal between Gov. Dannel Malloy and a bargaining coalition that lowered the state pension system's assumed rate of return from 8% to 6.9%.

Deficit-plagued Connecticut is being asked for $250 million to fix up Hartford’s money-losing, four-decade old downtown arena.

The Connecticut Housing Finance Authority received an A-minus from national environmental organization Global Green USA for its energy efficiency.