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

“Moody’s is wrong in its analysis of the state’s finances, and wrong to change Connecticut’s credit rating,” Benjamin Barnes, Gov. Dannel Malloy’s Office of Policy and Management secretary, said in a statement minutes after the rating agency announced its downgrade.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.