Connecticut

Moody’s Investors Service downgraded Groton, Conn.’s long-term general obligation rating to Aa3 from Aa2 and affirmed a negative outlook.

Kroll Bond Rating Agency Inc., which two months ago issued its first state rating when it ranked Connecticut, went back to that state Monday to continue its municipal finance buildout.

Christine Shaw has become Connecticut’s deputy treasurer, Treasurer Denise Nappier announced.

Officials from distressed municipalities discussed their financial situations at The Bond Buyer's Tri-State Area Public Finance Conference on Monday.

Gov. Dannel Malloy and Comptroller Kevin Lembo on Thursday announced a reduction of roughly $13.3 billion in Connecticut’s future unfunded state employee and retiree health care liabilities, according to a finalized actuarial report.

The state of Connecticut sold $555 million of general obligation bonds on Wednesday — one day ahead of schedule — due to favorable market conditions.

Connecticut is the first public-sector issuer to receive a rating from Kroll Bond Ratings, state Treasurer Denise Nappier announced.

The board of the recently created Connecticut Airport Authority has hired Bridgeport law firm Pullman & Comley LLC as general counsel for one year.

The Connecticut Health and Educational Facilities Authority on Tuesday plans to competitively sell $47.8 million of Connecticut State University System revenue refunding bonds, Series L.

Connecticut will end fiscal 2012 with a general fund deficit of $20.7 million, according to Comptroller Kevin Lembo.

Connecticut Gov. Dannel Malloy kicked off his second year in office with his state of the state address, proposing a $20.77 billion budget that would take effect on July 1.

The Connecticut State Bond Commission has approved $291 million of borrowing over 10 years for a proposed research laboratory adjacent to the University of Connecticut Health Center in Farmington.

Anyone who needed a wakeup call got one 10 days ago when Moody's Investors Service threw a high, hard one at Connecticut, lowering the state's general obligation bond rating to Aa3 from Aa2, citing budgetary and pension shortfalls, and depleted reserves.

Connecticut officials reacted angrily Friday after Moody's Investors Service lowered the state's general obligation bond rating to Aa3 from Aa2.

Connecticut and Jackson Laboratory finalized their agreement for the Bar Harbor, Maine, company to build a $1.1 billion personalized-medicine laboratory at the University of Connecticut Health Center in Farmington.

Standard & Poor’s removed the Connecticut Housing Finance Authority’s mortgage finance bonds from its watch list and assigned a stable outlook.

Fairfield, Conn., opened its third train station, Fairfield Metro, to commuters last week.

After its Board of Aldermen rejected a proposal for streetcar service, New Haven has resubmitted a plan that would replace its match with regional or state transportation funds.

The $150 million refunding portion of Connecticut’s $700 million general obligation bond sale is expected to generate $21.5 million in budget savings over eight years, said Treasurer Denise Nappier.

The credit effect of the recent snowstorm and ensuing power outage on individual municipalities in Connecticut will depend on each local government’s level of financial flexibility, measured by existing liquidity and budgetary cushion, Moody’s Investors Service said.