Buy and Sell Signals, and Other Market Perspectives Message Board

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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives

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Nov 21 4:00 PM EST

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To: GROUND ZERO™ who wrote (5314)	6/7/2010 2:29:51 PM
From: FJB	1 Recommendation Read Replies (1) of 219152

Rating Cut by Fitch on Wealthiest U.S. State Saturday, June 5, 2010 Connecticut is preparing to borrow $956 million to close a budget gap in the fiscal year beginning July 1, after borrowing money last year to cover a deficit of $947.6 million. Not good. Fitch has reduced the states credit rating from AA+ to AA. “The downgrade reflects the state’s reduced financial flexibility, illustrated by its reliance on sizable debt issuances during the current biennium to close operating gaps in the context of already high liabilities,” Fitch said. Connecticut is the wealthiest state on a per capita basis with personal income of $54,397 in 2009, according to Department of Commerce.

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