July 25, 2012 / 7:53 PM / 5 years ago

New Haven's outlook turns negative as reserves fall-S&P

July 25 (Reuters) - The outlook for Connecticut's New Haven has turned negative because of its declining reserves, with a "significant drawdown" expected in fiscal 2012, Standard & Poor's Ratings Services said on Wednesday.

The city's general obligation bonds now are rated A-minus.

Reporting By Joan Gralla and Caryn Trokie

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