Fitch Ratings late Thursday downgraded Connecticut’s general obligation debt to AA from AA-plus, citing the state’s reduced financial flexibility, reliance on debt to close budget gaps, and structural imbalance. Fitch also revised its outlook on the state to stable from negative.

The action puts Fitch’s rating at the same level with Moody’s Investors Service and Standard & Poor’s. The rating action affects approximately $13.7 billion in outstanding GO debt.

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