Press Release: Senator Frantz Releases Statement on S&P Global Ratings Downgrade of the State of Connecticut

HARTFORD, CONN. – Today State Senator L. Scott Frantz (R-Greenwich) released the following statement regarding the S&P Global Ratings downgrade of the state of Connecticut.

 “Today S&P became the final of the big three Wall Street credit rating agencies to downgrade our state, making Connecticut one of the lowest-rated states in the country,” said Sen. Frantz. “This was completely predictable, we should look at this as an opportunity to lay a new path for the state, a path of sustainability, predictability and stability. As budget negotiations continue, we must acknowledge that unrelenting tax increases and state mandates are driving businesses and families out of Connecticut. The next biennial budget must avoid tax increases and offer Connecticut businesses a much needed break.”

For S&P, Connecticut is now rated A+ with a stable outlook, fourth worst behind Kentucky.