City of Hartford
CUSIP 416415DU8
- Issue Currency: United States of America Dollars
- Announcement Date: 26-Sep-2017
- News: Moody`s Investors Service has downgraded the City of Hartford, CT`s general obligation debt rating to Caa3 from Caa1 and removes the rating from review for possible downgrade started on September 12, 2017. The rating action applies to approximately $536.5 million in bonds. The outlook is negative. The downgrade to Caa3 reflects increased likelihood of default as early as November and a higher probability of significant bondholder impairment given impending bankruptcy. The rating further incorporates uncertainty from the state budget impasse and approval by the state legislature of a budget that does not provide any additional aid requested by Hartford to manage a current year budget gap. The Caa3 rating reflects expectation that bondholders will recover 65% to 80% of principal, in light of the city`s large structural deficits that will require relief from multiple sources. For Bond Document please visit www.BondPDF.com
- Issue Currency: United States of America Dollars
- Announcement Date: 03-Oct-2017
- News: Moody`s Investors Service has downgraded the City of Hartford, CT`s general obligation debt rating to Caa3 from Caa1 and removes the rating from review for possible downgrade started on September 12, 2017. The rating action applies to approximately $536.5 million in bonds. The outlook is negative. The downgrade to Caa3 reflects increased likelihood of default as early as November and a higher probability of significant bondholder impairment given impending bankruptcy. The rating further incorporates uncertainty from the state budget impasse and approval by the state legislature of a budget that does not provide any additional aid requested by Hartford to manage a current year budget gap. The Caa3 rating reflects expectation that bondholders will recover 65% to 80% of principal, in light of the city`s large structural deficits that will require relief from multiple sources. For Bond Document please visit www.BondPDF.com
- Issue Currency: United States of America Dollars
- Announcement Date: 12-Sep-2017
- News: Moody`s Investors Service has downgraded the City of Hartford, CT`s general obligation debt rating to Caa1 from B2. The rating is under review for possible downgrade. Debt affected totals approximately $550 million. For Bond Document please visit www.BondPDF.com
