Connecticut

Hartford’s four-notch downgrade by S&P to BBB was dramatic, given the markets’ longstanding awareness of the fiscal woes in Connecticut’s capital city.

Hartford Mayor Luke Bronin timed his latest dire financial picture about his city’s government with a call for a regional approach to problem solving in Connecticut’s cities.

Admitting its budget imbalance problem is Connecticut's first step to reversing bond rating downgrades, said state Comptroller Kevin Lembo.

Surety provider Arch Insurance will take over costs and oversee construction of a stalled minor-league ballpark in Hartford, Conn., Mayor Luke Bronin announced.

Fitch downgraded Connecticut's outstanding special tax obligation bonds to AA-minus from AA, citing its revised U.S. tax-supported rating criteria.

Connecticut's two largest pension funds exceeded benchmarks but only returned 0.26% and 0.25%, state Treasurer Denise Nappier announced.

Northeast issuers sold $57.4 billion of municipal bonds in the first half of 2016, a 3% increase from the first six months of 2015, according to Thomson Reuters data.

Connecticut sold $250 million in tax-exempt general obligation bonds at a record low overall interest rate, said Treasurer Denise Nappier.

The Connecticut Housing Finance Authority plans to offer $185 million in bonds in August.

Moody's Investors Service has assigned a Baa1 rating to the city of New Haven, Conn.'s $121.8 million general obligation bonds, issue of 2016, Series A.

Biotech Amgen has agreed to pay $95 million to settle a class action filed on behalf of investors with Connecticut Retirement Plans and Trust Funds as lead plaintiff.

Kroll's downgrade to AA-minus should have little effect on Connecticut's $500 million GO sale, said state Treasurer Denise Nappier.

Connecticut, which expects to empty most of its rainy-day fund as it struggles with its budget, received a downgrade from Kroll Bond Rating Agency

Brexit, the United Kingdom’s referendum vote to leave the European Union, may complicate the fiscal strife facing many Northeast states by adding another variable to problems that were already present.

The Connecticut Housing Finance Authority intends to offer up to $63 million in fixed-rate bonds on Tuesday and $23 million as variable rate on July 13.

A transfer from Connecticut's rainy-day fund to cover a projected $316 million fiscal 2016 budget gap would be a credit negative, Moody's said.

State Treasurer Denise Nappier announced a reduction in the Connecticut Higher Education Trust management fee, now that the direct-sold plan has exceeded $2.5 billion in assets.

Hartford, Conn., Mayor Luke Bronin has called a $47 million performance bond on the developer of a minor-league baseball park, citing delays and cost overruns.

The budget problems of Connecticut, which received two downgrades Thursday, are also a problem for its three largest cities.

Standard & Poor's and Fitch Ratings both downgraded Connecticut's general obligation bonds to AA-minus from AA in advance of the state's $511 million sale.