Governor Announces State Credit Rating Increased; “Connecticut is getting its mojo back”
Governor Ned Lamont today announced that his administration has received notification from credit rating agency Standard & Poor’s (S&P) that it is increasing Connecticut’s general obligation bond credit rating from A+ (positive) to AA- (stable). This credit rating increase follows increases in 2021 by several other agencies, including Moody’s, S&P, Fitch, and Kroll.
Prior to Governor Lamont taking office, Connecticut had not experienced an increase in its credit rating since February 2001.
Governor Lamont said, “Connecticut taxpayers should celebrate today’s news. This credit rating increase will mean lower costs for critical projects that move our state forward. It is a signal to the businesses and residents that our state is on the right financial path, that we have shown a commitment to putting our fiscal house in order, and we are continuing to make significant progress to address our pension and other postemployment benefit liabilities. S&P recognizes the progress that has been made and that Connecticut is getting its mojo back.”
Secretary Beckham said, “As we develop next year’s budget, this credit rating increase sends strong signals for how we should proceed in the future. The budget we release in February will include an extension of the bond covenants that S&P stated as a key reason for our upgrade. If we are going to continue the positive progress made under this administration, those bond covenants and associated benefits must be a part of the final budget bill.”
In its notice to investors that was released today, S&P said, “The upgrade on the state’s GO debt reflects our view of Connecticut’s sustained positive financial results and building of high reserve levels during a recent period of economic and revenue growth, while also demonstrating its commitment to structural budget balance and curbing future growth of the state’s very high debt, pension, and other postemployment benefit (OPEB) liabilities, which we expect will continue in future biennial budgets. Connecticut’s overall credit improvement is also underscored by the executive branch’s announcement and intent to extend statutory financial controls in the next biennial budget proposal, which supports our view that the state remains more firmly committed to these provisions for the foreseeable future.”
Joseph Louis Veno, 96, Died; Born in Saugatuck, WWII Navy Veteran
Joseph Louis Veno passed away peacefully on November 16, 2022, at the age of 96. Joseph was born on May 10, 1926, in Saugatuck, Connecticut to Louis and Mary (Dorta) Veno and was a lifelong resident of Westport and Norwalk.
As a teen, he worked as a caddie at Longshore Country Club and enjoyed swimming in the Saugatuck River. At age seventeen, Joseph enlisted in the Navy where he served on the USS Apollo submarine tender in the Pacific during WWII. After his return from the war, Joseph met and married the love of his life, Madeline (Cenatiempo) Veno. They settled in Norwalk, Connecticut and had three sons, Louis, Joseph Jr. and Steven.
Joseph had a tireless work ethic and worked in the flooring industry as a business owner and expert installer of linoleum, tile and carpet. He later worked at St. Thomas the Apostle church in Norwalk, St. Cecilia church in Stamford and Christ & Holy Trinity church in Westport until he retired at the age of 85. He returned to Saugatuck in 1997 and lived in the same building where he had once attended elementary school. He lost his beloved wife, Madeline, twenty years ago in November 2002.
Joseph was a faithful Catholic who appreciated the simple joys of life. He enjoyed spending time with his children, grandchildren, and great-grandchildren, and took great pride in their accomplishments. He loved Italian food, ice cream sundaes and baseball (the New York Mets), and kept an exceptionally clean home. He also enjoyed countless visits to Compo beach with his brother, Angelo Veno, and other friends. He maintained an active social calendar and met regularly with his friends. His sharp memory allowed him to share detailed stories from his youth well into his tenth decade, recalling Saugatuck at a time when Italian families shared a communal baking oven and kept pigs and chickens.
Joseph was predeceased by his wife, Madeline, brother Angelo and sister Ida. Joseph is survived by his sons, Louis Veno (Marlene), Joseph Veno, Jr. (Anne), Steven Veno (Sara), his sister Theresa Valentine (Richard), grandchildren Alison Larsen (Jared), Jason Veno (Lauren), Tyler Veno, Michael Veno (Kristin), Nicole Veno, Natalie Veno, Steven Veno, Jr., Brendan Veno, Christopher Veno (Courtney), and great-grandchildren Spencer, Trevor, Benjamin, Lucia and Nicholas. He is also survived by Sylvia Pack, whose companionship he was blessed with in his later years.
Friends are invited to attend a funeral service on Saturday, November 26, 2022, at 11:00 a.m. at St. Thomas the Apostle Church, 203 East Avenue, Norwalk, CT, followed by a graveside service with full military honors at 12:15 p.m. at St. John's Cemetery, 223 Richards Ave., Norwalk, CT.
The Raymond Funeral Home, 5 East Wall Street in Historic Norwalk has been entrusted with arrangements. Please visit www.norwalkfh.com to leave an online condolence.
Historic Staples Candlelight Concert to be Held on December 16, 17th
The 82nd Annual Candlelight Concert will be presented at Staples High School Auditorium on Friday, December 16 at 8:00pm and Saturday, December 17 at 3:00pm and 8:00pm.
This annual gift to the Westport community showcases the talents of our nationally recognized musicians and performers. The Staples Symphonic Orchestra, Symphonic Band and Choral Ensembles will perform traditional Candlelight favorites such as “Sing We Noel” and “Hallelujah Chorus.” Also featured will include movements from Tchaikovsky's “Nutcracker Suite," music from the movie "Home Alone" by John Williams, and the first movement of Dan Forrest's “Jubilate Deo.”
Tickets will be available to the public on Thursday, Dec. 1, starting at 9am. You can get tickets online at www.staplesmusic.org (4 ticket maximum). Order promptly, tickets historically sell out fast. There is no charge for Candlelight tickets.