Hartford Mayor Says City Needs to Reduce Its Debt Bills
- In interview, he declines to rule out losses for bondholders
- City debt rallied after state approved rescue from bankruptcy
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Hartford Mayor Luke Bronin said the Connecticut capital will negotiate with bondholders and the state to “end up with a debt-service burden that is manageable over the long term,” though he declined to say whether that may impose losses on owners of its debt.
“You use the terms restructuring, refinancing, rescheduling, refunding and there’s probably a Venn diagram where they overlap and then there are ways in which they differ," he said in an interview on the sidelines of a panel discussion Monday about Connecticut’s finances. "The terms of any bond deal will have to be negotiated and, again, they will depend to a large extent on what the state is willing to do as part of a long-term solution.”