Connecticut Credit Rating Improves

2 credit rating agencies… Fitch and Moody’s… have upgraded Connecticut’s general obligation bond outlook from “stable” to “positive.” The change reflects the state’s significant economic progress and efforts to reduce fixed costs. The benefits of this improved outlook include lower borrowing costs for state residents and businesses. Over the past six years, Connecticut has made around $8 billion in additional pension payments and rebuilt its rainy-day fund, saving about $700 million in the general fund.