State capitals not immune from fiscal trouble, though ‘next Hartford’ unlikely

Source: Chris Salcedo, Naomi Richman, Alexandra S. Parker, Leonard Jones, Moody’s, Sector In-Depth, February 28, 2018
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The recent financial struggles of Hartford, Connecticut show that a city’s status as a state capital is not a buffer against credit distress. A sizable government sector provides stability, but it is not a reliable growth driver.