First big business, now a bond rating agency backs Malloy’s budget

New Democratic Governor Dannel Malloy’s administration has been brandishing letters of support for his “shared sacrifice” budget from Hartford and Fairfield County business leaders.

Fitch, one of three bond rating agencies whose opinions cause governors, mayors and selectmen to lose sleep, should be added to that list of supporters, at least according to one Democratic operative. This individual has been urging the non-business press to cover Connecticut’s retaining its stable AA rating following last week’s adoption of the two-year budget deal between Malloy and legislative Democrats.

If you click on the above link and don’t understand all the business jargon, that’s okay. Yes, the rating is good news.

However last June then-candidate Malloy didn’t think a AA rating was something to celebrate. He and other candidates from both major parties at the time lamented the news Fitch had downgraded our rating from AA+ to AA.

Brian Lockhart