A new report from Fitch Ratings placed Connecticut second only to Illinois in the amount of state debt compared to personal income. The 2020 State Liability Report looked at direct debt and net pension liabilities as a percentage of personal income and found Connecticut’s debt accounted for roughly 26 percent ...
The University of Connecticut and UConn Health Center is asking the state of Connecticut for a combined $102.7 million to help mitigate their losses stemming from the COVID-19 pandemic, according to figures presented to the state Appropriations Committee on August 28. The requests are due to losses from fiscal year ...
Barron’s, the financial investor publication, conducted an overall “credit worthiness” scorecard for states and ranked Connecticut near the bottom of the pack, despite a hefty budget reserve fund. Connecticut currently has an A1 stable credit outlook from Moody’s Investor Services and an A rating from S&P Global Ratings. However, according ...
UConn Health Center is facing $114 million loss in revenue after the coronavirus pandemic emptied beds and ended a large number of medical procedures, according to the budget presentation given to the UConn Board of Trustees. According to figures, patient revenue to UConn Health tanked by almost 50 percent during ...
The University of Connecticut is facing an estimated $50 million budget shortfall due to the COVID-19 pandemic and is having to furlough managers and cut its athletics department to make up for the deficit. Although the school faced a loss after having to send students home midway through the spring ...
Connecticut’s teacher pension debt is officially listed at $16.8 billion, but a new study says that figure might be much higher. According to a new study published by Yankee Institute, Connecticut’s discount rate for its teacher pension system is under-stating its unfunded liabilities by using too high of a discount ...