Friday, October 20, 2017

Moody's Warns of 'Likely' Hartford Default, Decades of Deficits Ahead



By Courant, Oct. 19, 2017

Moody’s Investor Service issued a dire warning to lenders Thursday: Hartford is likely to default on its debt by November and, if it doesn’t change course, will run up annual deficits exceeding $60 million through the next 20 years.

On Sept. 26, Moody’s downgraded the city’s bond rating, reflecting the investor service’s belief that “in the likely event of a default,” bondholders may recover as little as 65 percent of their investment.


Read More: http://www.courant.com

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