- Connecticut is collecting a duo of fiscal wins this week with two upgrades from both Moody’s and Fitch. Both of the credit rating agencies cited improvements in the state’s budget management practices. Overall, this should help the bonds, although we have been bullish on Connecticut for quite some time. If you own Connecticut debt, this is a positive for you.
- If you own Chicago BOE’s, there is a chance some will be called, as the system is missing a 650MM issue today to add working capital and call a small portion of the existing debt. I would suspect that if this round goes well in pricing, we will see additional issues priced as we move through the balance of the year.
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