State of Connecticut

Luke Bronin called the latest multiple-notch downgrades no surprise.

Hartford, Conn.’s debt rating was dropped to CC by S&P Global Ratings Tuesday, which called a default, distressed exchange, or redemption a “virtual certainty.”

Top Republicans say they will meet with Democratic Gov. Dannel Malloy, who vows to veto the GOP-backed budget.

While Mayor Luke Bronin awaits state aid from a fractious government, a bondholder call looms.

Several Democrats broke with their party to pass a GOP budget that Gov. Dannel Malloy intends to veto.

As the capital city's bonds plunged deeper into junk, Connecticut struggled to pass a state budget.

A planned overnight short-notice vote failed to materialize amid continued tweaks.

Bankruptcy may be the only way for Hartford to solve its financial problems, said Connecticut's governor, Dannel Malloy.

The capital city has threatened to file bankruptcy in 60 days if it doesn't get sufficient state help.

Mayor Luke Bronin told Gov. Dannel Malloy and lawmakers that Chapter 9 for Connecticut's capital is inevitable if the state cannot pass a budget.

Kevin Lembo says rating agencies are poised to hammer the state and its cities again.

Municipalities object to a report by Gov. Dannel Malloy's budget office that defends the level of state aid.

Adequate funding for transit is a heightened focus, says Nick Sifuentes, the new chief of the Tri-State Transportation Campaign.

The plan would toll East River bridges and charge motorists within certain parts of Manhattan, with an eye on funding transit.

The need to close a widening deficit and backstop Hartford could pressure other cities and school districts.

The state already has budget deficit two months into the fiscal year.

The governor's adjustment protects the state's neediest districts but hits others hard.

Benjamin Barnes cited austerity measures and some revenue improvements.

The rating agency cited state budget volatility that affects local government aid.

The concerns have arisen in the weeks following a round of budget negotiations that was particularly tough for several states.