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KBRA Releases Report Assigning AA+ Rating to State of Connecticut Special Tax Obligation Bonds, Transportation Infrastructure Purposes, 2022 Series A and Refunding 2022 Series B; Affirms Parity Debt; Outlook Remains Stable

NEW YORK, October 03, 2022--(BUSINESS WIRE)--On September 30, 2022 KBRA assigned a long-term rating of AA+ with a Stable Outlook to the following State of Connecticut bonds:

  • Special Tax Obligation Bonds, Transportation Infrastructure Purposes, 2022 Series A

  • Special Tax Obligation Refunding Bonds, Transportation Infrastructure Purposes, 2022 Series B

KBRA additionally affirmed the long-term rating of AA+ with a Stable Outlook for outstanding Special Tax Obligation Bonds, Transportation Infrastructure Purposes.

Click here to view the report. To access ratings and relevant documents, click here.

Disclosures
Further information on key credit considerations, sensitivity analyses that consider what factors can affect these credit ratings and how they could lead to an upgrade or a downgrade, and ESG factors (where they are a key driver behind the change to the credit rating or rating outlook) can be found in the full rating report referenced above.

A description of all substantially material sources that were used to prepare the credit rating and information on the methodology(ies) (inclusive of any material models and sensitivity analyses of the relevant key rating assumptions, as applicable) used in determining the credit rating is available in the Information Disclosure Form(s) located here.

Information on the meaning of each rating category can be located here.

Further disclosures relating to this rating action are available in the Information Disclosure Form(s) referenced above. Additional information regarding KBRA policies, methodologies, rating scales and disclosures are available at www.kbra.com.

About KBRA
Kroll Bond Rating Agency, LLC (KBRA) is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. Kroll Bond Rating Agency Europe Limited is registered as a CRA with the European Securities and Markets Authority. Kroll Bond Rating Agency UK Limited is registered as a CRA with the UK Financial Conduct Authority pursuant to the Temporary Registration Regime. 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221003005833/en/

Contacts

Analytical Contacts

Peter Scherer, Director (Lead Analyst)
+1 (646) 731-2325
peter.scherer@kbra.com

Yang Li, Associate Director
+1 (646) 731-1216
yang.li@kbra.com

Karen Daly, Senior Managing Director (Rating Committee Chair)
+1 (646) 731-2347
karen.daly@kbra.com

Business Development Contacts

William Baneky, Managing Director
+1 (646) 731-2409
william.baneky@kbra.com

James Kissane, Senior Director
+1 (213) 806-0026
james.kissane@kbra.com