Dannel Malloy

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.

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.

The state, after multiple rating downgrades and facing budget strife, declining revenue and a pension funding dispute, plans a GO new-money and refunding sale.

While Gov. Dannel Malloy and lawmakers study recommendations from a state panel, Nuveen warned that the state’s bond rating could plummet further.

“We’re getting our ass kicked," the Gov. Dannel Malloy said, pitching a widening of the state's most congested highway.

Connecticut Treasurer Denise Nappier told lawmakers that Gov. Dannel Malloy's plan to push out payments would violate a bond covenant.

Still dusting themselves off from last year’s budget chaos, Gov. Dannel Malloy and Connecticut lawmakers reconvene to grasp a glaring transportation fund crisis.

Gov. Dannel Malloy urged lawmakers to replenish the Special Transportation Fund.

The state issued the notes in 2009 to cover operating expenses when its rainy-day fund was depleted.

The Connecticut governor cited recent changes to the state employee pension system as a parallel.

The rating agency will continue to monitor financial developments in Connecticut's capital city.

Alternative strategies include general obligation borrowing to offset limited bonding capacity in the special transportation fund.

Only weeks after Gov. Dannel Malloy signed a fiscal 2018 budget, the state has a new round of fiscal crises.

Thomas Hamilton, Scott Jackson and Jay Nolan will join the nascent board that will intervene in and assist with municipal distress cases.

Budget secretary Benjamin Barnes' latest revenue estimate comes two weeks after lawmakers passed a $41.3 billion biennial spending plan.

A commission would examine transferring capital assets to a trust and building asset values to benefit pension plans.

The governor's action ends a five-month impasse over the biennial spending plan, though work remains at the state capitol.