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BRIEF-S&P says Connecticut's proposed state budget could lead to significant local government budgetary uncertainty
February 16, 2017 / 8:05 PM / in 5 months

BRIEF-S&P says Connecticut's proposed state budget could lead to significant local government budgetary uncertainty

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Feb 16 (Reuters) - S&P Global Ratings:

* S&P - Connecticut's proposed state budget could lead to significant local government budgetary uncertainty

* S&P - Governor of Connecticut's 2018-2019 biennial budget proposal creates budgetary uncertainty for some local governments

* S&P on Connecticut's budget - Credit impact on local governments could be negative should they not be able to adequately adjust to new funding paradigm

* S&P on Connecticut budget - From credit standpoint, believe communities lacking reserves, budgetary flexibility to cushion outsized budget gaps will feel greatest effects

* S&P on Connecticut's budget - Shift in pension funding responsibilities from state to local governments could potentially lead to further cost shifts in future

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