CT’s Credit Rating

HARTFORD, CT) – Governor Ned Lamont and Office of Policy and Management Secretary Melissa McCaw today are applauding the announcements over the last two days from three independent credit rating agencies that they are each upgrading Connecticut’s bond credit ratings. They include:

  • An announcement on Thursday from S&P Global that it is upgrading Connecticut’s bonds to A+;
  • An announcement on Thursday from Kroll that it is upgrading Connecticut’s bonds to AA; and
  • An announcement today from Fitch that it is upgrading Connecticut’s bonds to AA-.

The three upgrades this week come on the heels of an announcement in March that Moody’s Investors Service is upgrading Connecticut’s rating to Aa3.

Collectively, the four upgrades are the first positive actions these agencies have taken on Connecticut’s credit in more than 20 years.

“These upgrades by S&P Global, Kroll, Fitch, and Moody’s are independent, third-party validations that our administration is putting Connecticut on the right track,” Governor Ned Lamont said. “For years, we’ve seen negative headlines about our finances and the state’s fiscal position, but this is even more proof that we are seeing sustained progress by addressing the sins of the past and investing in the future of this great state. We have made tremendous strides in just a few short years and the credit rating agencies are now taking notice. Our handling of the COVID-19 pandemic has led the country with common-sense measures which kept our residents safe while keeping our economy moving, and we are incredibly well-positioned to rebound as the impact of coronavirus subsides. Now is not the time to disrupt the fragile economic and financial environment by levying large-scale tax increases or creating massive new spending programs. This is the time to continue our strong financial practices, pay down our long-term debt, and foster growth that will enhance our long-term prospects and ensure that everyone knows the future is bright in Connecticut.”

“Connecticut’s rating upgrades under the Lamont administration are clearly indicative that we are moving in the right direction – paying down our long-term obligations, moderating our debt issuances, adhering to prudent budget management, and balancing the level of expenditure growth while investing in Connecticut’s comeback and future,” Secretary McCaw said. “We must be mindful of these strategic measures and stay the course. These credit rating upgrades are certainly good news and reflective of the hard work and difficult decisions we have had to make, and it is a reminder that in order for us to move ahead, we must keep our focus on investment and sustainability in the years and decades to come.”

This press release was made possible by:

CT’s Self Pour

The Connecticut State Senate passed a bill legalizing self-pour technology in state bars, restaurants, and breweries. The original bill allowing self-pour technology (SB 265), which passed in the General Law committee with overwhelming support, was folded into a larger bill (SB 894) as an amendment. 

In response, Mike Gallop, owner of a Tapville Mobile Taproom franchised in Brookfield, CT, made the following statement:

“For Nutmeg State job-creators and consumers, this bill is a win-win. Allowing self-pour technology in Connecticut will boost our state’s economic competitiveness, empower and protect consumers, and increase revenue in local communities. 

“Currently, Connecticut is one of the only states east of the Mississippi River that prohibits self-pour technology. To better compete in an increasingly competitive marketplace, we need to allow restaurants, bars, breweries, and more to utilize automated self-pour systems.

“Thanks to the State Senate for supporting this job-creating, revenue-generating, consumer-centric measure. I urge members of the House of Representatives to do the same, and once passed, for the governor to sign the bill into law.”

Bridgeport News: House Fire

2021-05-14@11:48am– #Bridgeport CT– Firefighters were called for a structure fire on Norland Avenue in Bridgeport’s North End. Heavy smoke was seen coming from the attic and eves of the home. Firefighters had everything under control within an hour. Everyone made it out of the home safely and there were no reported injuries. The fire chief and fire marshal was on scene investigating.

PROVISIONS TO SUPPORT YOUNG SCIENTISTS & HELP STOP SEXUAL HARASSMENT IN STEM PASSED BY COMMERCE COMMITTEE

WASHINGTON, D.C.] – U.S. Senator Richard Blumenthal (D-CT) applauded the Senate Commerce, Science, and Transportation Committee’s bipartisan passage of the Endless Frontier Act today with several provisions he championed to help address sexual harassment in STEM fields and to support early-career researchers whose employment opportunities have been adversely affected by the COVID-19 pandemic:

“This landmark legislation will help put America at the forefront of scientific and technological progress—truly an endless frontier for the 21st century. This bipartisan commitment should protect our vital national interest, economic and strategic, as a world leader. I added measures to fight the rampant culture of sexual harassment in STEM and support young scientists whose careers have been affected by the pandemic. By confronting deep inequities in STEM fields, this legislation will make it easier for women and other underrepresented groups to thrive. The full Senate must commit to passing this strong bipartisan legislation to support talented scientists and invest in American innovation.”  

Blumenthal secured the inclusion of several specific provisions in the Endless Frontier Act, based on his Combating Sexual Harassment in Science Act and Supporting Early-Career Researchers Act, including:

·       Curbing Sexual Harassment in STEM Fields: The Endless Frontier Act includes language Blumenthal authored and secured to improve the understanding of factors contributing to sexual harassment in science, technology, engineering, and mathematics (STEM) fields, examine impacts of harassment on individuals, and develop policy guidelines to mitigate this harassment. A landmark 2018 report from the National Academies of Sciences, Engineering, and Medicine found that sexual harassment is wide-spread in higher education institutions and contributes to loss of talented, highly-trained individuals in STEM.

Among the provisions fought for by Blumenthal, the legislation would award grants through the National Science Foundation (NSF) to deepen understanding of the factors contributing to and consequences of sexual harassment across institutions of higher education and nonprofit organizations and to examine interventions to reduce its frequency and impact. It would also direct Federal statistical agencies to collect national data on the prevalence, nature, and implications of sexual harassment in institutions of higher education, NSF to enter into an agreement with the National Academies to update the National Academies’ research conduct report to include more detailed data points, and the Director of the Office of Science and Technology Policy to develop a set of policy guidelines for Federal science agencies.

·       Supporting Early-Career and Underrepresented Researchers: At Blumenthal’s urging, the Endless Frontier Act includes language to support early-career researchers whose employment opportunities have been adversely affected by the COVID-19 pandemic, including those at minority-serving institutions and women and minorities underrepresented in STEM fields. The provisions would create a new postdoctoral fellowship program at the National Science Foundation (NSF) to prevent the loss of research talent due to job market disruptions caused by the economic decline during and after the pandemic.

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