Hartford Mayor Luke Bronin updates the city's budget crisis, and outlines what he's trying to do about it. He also provides an update on the status of the new baseball park.
A major rating agency has downgraded the credit rating of Hartford, saying Connecticut’s capital city lacks a credible plan to balance its budget and fix future projected deficits.
S&P Global Ratings announced Thursday it was lowering Hartford’s rating on general obligation bonds by four notches, from A-plus to BBB.
S&P credit analyst Timothy Little says the agency also issued a “negative outlook” for Hartford, adding there’s “uncertainty regarding the city’s ability to enact deficit migration measures, coupled with the significant budget gaps the city projects for the next five years.”