Faith Isbell

(Bloomberg) — Connecticut is collecting fiscal wins this week.

The state got bond-rating upgrades from Moody’s Ratings and Fitch Ratings, both of which cited improvements to the state’s budget-management practices. Moody’s raised Connecticut by one step to Aa2 on Tuesday, and Fitch followed on Wednesday by lifting the state to AA from AA-. Both are the third-highest levels.

Moody’s referenced the state’s reduced liabilities and fixed costs, resulting in part from fiscal guardrails originally put in place in 2018. The following year, Governor Ned Lamont, a Democrat, proposed a “debt diet” that would shrink borrowing.

Also on Wednesday, state Treasurer Erick Russell said the Connecticut Retirement Plans and Trust Funds reported returns of 10.14% for fiscal 2025, higher than

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