HARTFORD, Conn. – Moody’s Investor Service warned that Hartford, Conn., will likely default on its debt by early November, the Hartford Courant reported Thursday.
Moody’s estimated that if the city remains on its current financial course, the city will run annual deficits exceeding $60 million through the next 20 years. The city, according to Moody’s, is saddled with fixed costs such as pensions and labor costs.
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The Courant reports that the Connecticut General Assembly is considering a bailout for the city.
