Thanks to sound fiscal management, Connecticut has earned another credit rating boost – this time from Moody's and Fitch. The two agencies attribute our strong budgets, aggressive pension liability payments, steady revenue growth, and long-term planning as key reasons for their decisions. These upgrades mark the seventh and eighth credit rating increases during the Lamont administration, a clear sign Connecticut is on the right track.
Moody’s raised Connecticut by one step to Aa2, and Fitch followed by lifting the state to AA from AA-. Both are the third-highest levels.
These upgrades are more than symbolic because they:
- Lower borrowing costs for the state
- Create immediate and long-term savings for taxpayers
- Make Connecticut bonds even more attractive for investors
This means we can continue paying down pension debt while freeing up resources for critical investments in education, housing, health care, social services, and much more.
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