Connecticut

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.

The University of Connecticut plans to issue $200 million of general obligation debt-service commitment Series 2011A new-money bonds, and $20 million of Series A refunding bonds, beginning with a two-day retail period that commences Friday.

The Connecticut Housing Finance Authority closed two bond sales on Nov. 3, and was able to make a third through a complicated maneuver.

When Jackson Laboratory of Bar Harbor, Maine, scuttled plans to establish a research facility in Florida, several other states came banging at the door of the genetics research company. Connecticut won out.

State Treasurer Denise Nappier has been inducted into the Connecticut Women’s Hall of Fame.

The Connecticut Bond Commission voted 8 to 2 to spend $800,000 for a new electronic-vote tally board for its House of Representatives, over the objections of the two Republicans on the commission.

Connecticut Gov. Dannel Malloy was scheduled late Thursday to sign a jobs bill that called for nearly $1 billion of bonds, including a controversial $291 million to help genetics research concern Jackson Laboratory build a $1.1 billion center at the University of Connecticut Health Center.

Connecticut’s treasurer called the state’s $900,000 settlement with the three rating agencies a major step forward.

Connecticut will receive a credit of about $900,000 from the three major rating agencies as part of a settlement from a lawsuit it initiated, accusing the three of unfairly lowering ratings.

Connecticut Gov. Dannel Malloy announced the award of $5 million to 11 cities, towns, and regional planning organizations for transit-oriented development aimed at improving links between communities and their transportation infrastructure.

Connecticut Gov. Dannel Malloy will host an economic summit on Thursday with an eye toward legislative proposals for a special session of the General Assembly on Oct. 26.