State of Connecticut

The budgeting constraints transformed the state's finances and bond ratings. But critics say the policy's downsides include the stifling of needed investments. 

Connecticut is poised to ramp up transportation borrowing, after years of consistently issuing less debt than it had the capacity and authority to sell.

Connecticut's GO deal is expected to benefit from its improving fiscal reputation, embodied in two rating outlook revisions to positive ahead of the pricing.

"The work done by our agency often focuses on the long-term," said Connecticut State Treasurer Erick Russell.

The $250 million of new money social bonds will finance public school construction projects, with another $190 million refunding debt issued to build schools.

The Bond Buyer's Deal of the Year awards will mark the 22nd year it has recognized outstanding achievement in municipal finance. The event, to be held Dec. 5 in New York City, will also include the presentation of the Freda Johnson Awards for Trailblazing Women in Public Finance.

"S&P recognizes the progress that has been made and that Connecticut is getting its mojo back," said Gov. Ned Lamont.

“The racial wealth gap is wide and growing and we need innovative policies like Baby Bonds to begin addressing it right away," says Shira Markoff of Prosperity Now.

Shawn Wooden has called for strengthening the Fed’s short term municipal lending program and enactment of a national baby bond program.

Richard Li is leaving the Milwaukee comptroller's office after nearly two decades to work on Connecticut's state debt issuance.