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KBRA Assigns AA- Rating and Stable Outlook to State of Connecticut GO Bonds (2020 Series A) and GO Refunding Bonds (2020 Series B)

December 2, 2019

NEW YORK--(BUSINESS WIRE)--Dec 2, 2019--

Kroll Bond Rating Agency (KBRA) assigns a long-term rating of AA- and stable outlook to the State of Connecticut General Obligation Bonds (2020 Series A) and General Obligation Refunding Bonds (2020 Series B). KBRA additionally affirms the long-term rating of AA- and stable outlook on the State’s fixed-rate General Obligation Bonds as well as the long-term rating of AA- and stable outlook on the Connecticut Innovations Incorporated State of Connecticut General Fund Obligation Bonds 2014 Series A.

Issuer: State of Connecticut

Assigned

Rating

Outlook

General Obligation Bonds (2020 Series A)

AA-

Stable

General Obligation Refunding Bonds (2020 Series B)

AA-

Stable

Affirmed

Rating

Outlook

General Obligation Bonds

AA-

Stable

Issuer: Connecticut Innovations, Incorporated

Affirmed

Rating

Outlook

State of Connecticut General Fund Obligation Bonds 2014 Series A

AA-

Stable

A detailed rating report will be forthcoming.

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About KBRA and KBRA Europe

KBRA is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. In addition, KBRA is designated as a designated rating organization by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider and is a certified Credit Rating Agency (CRA) by the European Securities and Markets Authority (ESMA). Kroll Bond Rating Agency Europe Limited is registered with ESMA as a CRA.

View source version on businesswire.com:https://www.businesswire.com/news/home/20191202005842/en/

CONTACT: Analytical Contacts:

Paul Kwiatkoski, Managing Director

(646) 731-7105

pkwiatkoski@kbra.com

Patricia McGuigan, Senior Director

(646) 731-3350

pmcguigan@kbra.com

Peter Scherer, Associate

(646) 731-2325

pscherer@kbra.com

Business Development Contact:

William Baneky, Managing Director

(646) 731-2409

bbaneky@kbra.com

James Kissane, Senior Director

(213) 806-0026

jkissane@kbra.com

KEYWORD: UNITED STATES NORTH AMERICA NEW YORK

INDUSTRY KEYWORD: BANKING PROFESSIONAL SERVICES FINANCE

SOURCE: Kroll Bond Rating Agency

Copyright Business Wire 2019.

PUB: 12/02/2019 01:48 PM/DISC: 12/02/2019 01:48 PM

http://www.businesswire.com/news/home/20191202005842/en