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"Greatest Fiscal Crisis In Our City's History": Hartford Warns It Will Be Broke In 60 Days

Well, that escalated quickly. Just two months after Standard & Poor’s downgraded its general obligation debt to junk status, warning that the historic Connecticut capital could soon follow other once-proud cities like Detroit into bankruptcy, Hartford city officials confirmed as much when they warned on Thursday that the city could be forced into insolvency within two months if the state doesn’t provide emergency financial relief, the WSJ reports.
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Guest Post: Williston’s Poor Fiscal Priorities Result In Credit Rating Downgrade

US Politics / Conservative : Say Anything Blog

This afternoon, Bloomberg News is reporting that the credit rating agency of Standards and Poors has downgraded the credit rating of the City of Williston to a BBB+, three steps away from “junk bond status”. The $5.8 million of debt...

Fiscal Crisis in Chicago: Pensions 31% Funded, Moody's Downgrades Debt 3 Notches, Pension Liability is $61,000 Per Household; Mish's Proposed Solutions

Business & Finance / Economics : Mish's Global Economic Trend Analysis

Move over Detroit. The fiscal crisis in Chicago is far bigger. Pensions 31% funded Moody's downgraded Chicago Debt 3 Notches (just 4 steps above junk) City debt on negative watch Pension Liability is $61,000 Per Household ($23,000 P...

Italy’s debt rating downgraded

Business & Finance : Business Report

Standard & Poor's has downgraded Italy's sovereign debt rating, citing economic, fiscal and political weaknesses. ||| Washington - Standard & Poor's on Monday downgraded Italy's sovereign debt rating, citing economic, fiscal and pol...

$10 billion of Chicago's debt was just downgraded to one level above junk

Business & Finance : Business Insider: Clusterstock

Credit rating agency Fitch downgraded $10 billion of Chicago's municipal debt to one level above junk Monday, and warned that America's third-largest city is in a perilous financial situation. According to a release from Fitch, the ...

Connecticut Capital Hartford Downgraded To Junk By Moody's

Business & Finance : Zero Hedge

Just two days after S&P downgraded Hartford to junk, Moody's has piled on, pushing the Connecticut State capital below investment-grade due to "the increased likelihood that the city will pursue debt restructurings to address its fi...

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