From Mike Burnick: Connecticut’s state capital, Hartford, is the latest municipality to have its debt rating cut to “junk” status.
In fact, Moody’s was the second credit agency to downgrade Hartford, and give the city a negative outlook.
The move impacts a staggering $500 million of outstanding debt.
Plus, the downgrade comes as the city faces a challenging liquidity outlook. And the city projects a 2018 fiscal deficit of $50 million.