March 27, 2018

Fitch scores UConn debt ‘A’

Fitch Ratings has given an "A" rating to upcoming bonds the University of Connecticut plans to sell in April.

The New York debt-rating agency said Monday its latest ratings cover $300 million in general obligation bonds. The ratings outlook is stable.

Fitch said the bonds are expected to be sold via negotiation around April 16.

Fitch said the ratings reflect "expectations for relatively flat economic and revenue performance that will continue to challenge the state, … together with the state's broad economic resource base and the continued fiscal flexibility inherent in a state's budget autonomy."

Over the past two decades, the state has prioritized expansion projects at UConn to improve its research facilities in science and technology.

Most of the projects funded since 2000 have been at the main campus in Storrs, with others at regional campuses, including Hartford's newly located facilities and the UConn Health Center in Farmington, Fitch said.

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