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 have real impact. They will:
- 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.
At the heart of this success is our state's continued commitment to the spirit of the fiscal guardrails. These rules, which cap spending, limit borrowing, and direct surplus revenues toward savings and debt reduction, not only keep our budgets balanced but also build confidence among taxpayers, businesses, and investors that Connecticut is moving forward on a sustainable fiscal path.
The guardrails ensure the state lives within its means today so future generations are not saddled with the mistakes of the past. As Connecticut continues to grow its economy and invest in its people, staying true to the spirit of the fiscal guardrails will be key to keeping this positive momentum going. |
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