Fitch Rates New Haven, CT's GOs 'A-'; Outlook Remains Negative

NEW YORK--(BUSINESS WIRE)--Fitch Ratings assigns its 'A-' rating to the following city of New Haven, CT's (the city) general obligation (GO) bonds: --$54,110,000 GO refunding bonds, series 2014A; --$36,075,000 GO bonds, series 2014B. In addition, Fitch affirms its 'A-' rating on the city's approximately $500 million in outstanding GO bonds. The Rating Outlook remains Negative. SECURITY The bonds are general obligations of the city backed by its full faith and credit and unlimited taxing power. KEY RATING DRIVERS FINANCIAL STABILITY SLOW TO REBOUND: The Negative Outlook reflects the city's current limited financial flexibility attributed to a recent history of deficit operations and depletion...