Dannel Malloy

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.

The House and Senate actions place the ball in the court of Gov. Dannel Malloy, who was sidelined during the negotiations.

The state Senate could bring the spending plan up for a vote that could help end a nearly five-month impasse.

Treasurer Denise Nappier called for sound bond-cap provisions, full funding of ARCs and adherence to a 2008 pension bond covenant.

Few details have emerged yet about a tentative state budget deal that might help the capital city dodge bankruptcy.

S&P lowered its outlook to negative, citing constraints from the four-month impasse.

The Connecticut Education Association seeks an injunction, calling the governor's executive-order cuts illegal.

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

Assured Guaranty and Build America Mutual presented city and state officials with an alternative to bankruptcy.

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.