S&P Global Ratings has revised the State of Connecticut's credit rating outlook from stable to positive, a move Governor Ned Lamont and Treasurer Erick Russell applauded on September 25, 2026.
During Governor Lamont's time in office, Connecticut has received eight credit rating upgrades. Before the start of the Lamont administration, the most recent General Obligation bond rating upgrade Connecticut received was in 2001.
"After two decades of credit rating downgrades and rising costs, Connecticut is now experiencing repeated credit rating upgrades, indicating that investor confidence in our state's fiscal stability is continuing to grow," Governor Lamont said. "Wall Street is clearly recognizing the hard work Connecticut has done to put our fiscal house in order."
"Stronger credit ratings help lower borrowing costs and expand Connecticut's capacity to invest in the priorities that matter to our residents," Treasurer Russell said.
In its announcement, S&P Global said, "The outlook revision reflects our view of Connecticut's commitment to reducing its high unfunded pension liabilities while sustaining budgetary balance and healthy reserves."
Connecticut Office of Policy and Management Secretary Joshua Wojcik said the improved outlook "sends a clear message to employers and investors that Connecticut has built a stronger and more stable fiscal foundation."
During the week of October 5, 2026, Treasurer Russell's office plans to offer $1.475 billion of General Obligation Bonds in four series. The issuance will include $800 million of 2026 Series C tax-exempt bonds and $300 million of 2026 Series B taxable bonds to support new projects, including economic development initiatives, municipal and nonprofit investments, urban action grants, school construction, agricultural land preservation, capital improvements, and general state purposes. The remaining offerings consist of approximately $242 million of 2026 Series D refunding bonds and $133 million of 2026 Series E forward-delivery refunding bonds, which will refinance previously issued bonds to lower interest costs and generate debt service savings.