The Debt Management Division is responsible for the cost-effective issuance and management of the State of Connecticut’s bonded debt. The State’s strategic investment in local school construction, roads, bridges, airports, higher education, clean water, and economic development are the foundation of Connecticut’s physical and social infrastructure.
In addition to issuing bonds to finance state capital projects, the division manages debt service payments and cash flow borrowing, maintains the State's rating agency relationships, and administers the Clean Water and Drinking Water loan programs.
Optimizing the State’s credit rating is critical to obtaining low interest rates and requires continual contact with the investment community and active participation in rating presentations with Moody’s Investors Service, Standard and Poor’s Ratings, Fitch Ratings, and Kroll Bond Ratings.
The latest financial instruments available in the public financing market are utilized when issuing new debt, and relationships are maintained with institutional and retail investors who have demonstrated confidence in the State’s economy by purchasing bonds and notes at attractive interest rates.
The Debt Management Division coordinates the issuance of bonds with State quasi-public authorities, including Connecticut Innovations (formerly known as Connecticut Development Authority), Connecticut Health and Educational Facilities Authority, Connecticut Housing Finance Authority, Connecticut Resources Recovery Authority, Connecticut Higher Education Supplemental Loan Authority, Capital Region Development Authority (formerly known as Capital City Economic Development Authority), Clean Energy Finance and Investment Authority and Connecticut Airport Authority.
The Office of the Treasurer is also a critical resource in the drafting of new laws, working with the Executive and Legislative Branches to provide financial advice on proposed legislative initiatives. This has resulted in the design of new bonding programs that have been well received in the financial markets, while maintaining exemption from federal and state taxes where appropriate.