What's Happening in Hartford, CT…

The City of Hartford recently received good news from Standard & Poor's Global Ratings, which upgraded the city from “stable” to “positive.”

The upgrade applies to the city's credit rating as a long-term issuer, and to the bonds issued by the Hartford Stadium Authority. The report noted that the improved outlook is due to the city having improved its control of its finances, which has resulted in better forecasting, budgeting, and planning.

Luke Bronin, the mayor of Hartford, said that S&P's ratings change is proof of the success the city has enjoyed in tackling its fiscal struggles. The city has looked at its financial operations honestly and directly, and comprehensively, with the result that there is now a transparent plan in place with regard to finances that gives Hartford a basis to start working to promote new growth in the community. Brochure printing can be used to explain issues like this.

S&P's action follows an upgrade by Moody's, which occurred earlier in the year. Moody's also upgraded Hartford's issuer ratings due to the city having stabilized its financial position and improving liquidity. These improvements were possible because Hartford instituted cost savings by controlling expenditures and negotiating labor contracts.

Adam M. Cloud, the treasurer, said the S&P upgrade means Hartford is managing its finances correctly. Cloud added that the new improved ratings will motivate him to keep working the same way, to maintain residents' confidence in the city and its leaders.