State of Connecticut

The Connecticut Housing Finance Authority expects to finance 695 mortgages for first-time home buyers through its planned $118 million issuance of fixed-rate bonds.

With competing party-line legislative budgets, a rebuke of both by the governor and a worsening deficit projection, the state is careening toward more fiscal turmoil and further backlash from Wall Street.

Hartford Mayor Luke Bronin struck a guardedly optimistic tone as he released a $567.3 million budget plan.

The rating actions came after the state agreed to assume the city's GO debt.

The bonds will finance projects in the UConn 2000 Infrastructure Improvement Program, a $4.6 billion, 32-year initiative.

Restructuring expert Michael Imber of EisnerAmper explains how in-kind real-estate asset contributions could curb the state's steep unfunded liability. Paul Burton and Chip Barnett host.

The city's issuer rating from Moody's Investors Service remains mired in speculative-grade territory.

The influx of volume may give the boost that's needed to jump-start the primary market.

Proponents call the move the right medicine for ailing Connecticut, while opponents say the measures are overly restrictive.

Restructuring expert Michael Imber says momentum is building for such a strategy, which he says could improve the state's funding ratio.