Governor Dannel Malloy

Jessica Hill / AP

Republican leaders in the Connecticut General Assembly are criticizing plans by Democratic Governor Dannel P. Malloy's administration to approve a $22 million loan and grant package for one of the world's largest hedge funds.

Two bond rating agencies are downgrading Connecticut's credit worthiness, citing uncertainty about whether the state has the financial flexibility to handle any future budget challenges.

Both Standard & Poor's and Fitch Ratings announced Thursday their credit ratings for Connecticut's General Obligation bonds dropped from AA to AA- with a stable outlook. A lower credit rating means higher borrowing costs.

Jessica Hill / AP

Governor Dannel Malloy says millions of dollars in savings contained in the Connecticut budget depend on lawmakers also passing his criminal justice reform bill.  

Jessica Hill / AP

Connecticut Governor Dannel Malloy is still pushing lawmakers to deal with his criminal justice reform bill called 'Second Chance 2.0.' The state legislature failed to bring up the bill when they passed the state budget in special session last week. 

Michelle Lee / Flickr

Connecticut’s regular legislative session ended on Wednesday without a final vote on the State’s budget.

Financial challenges have been at the forefront of lawmakers’ work this session as the state faced a mounting budget deficit that’s now projected to be close to $1 billion for the next fiscal year that begins on July 1.

Pages