Saturday, March 16, 2013

Moody's Investor's Service Downgrades City of New Britain


From A1 to A2 due outstanding Bond obligations. Moody's reasoned is that the city's tax base has a limited revenue since the mayor is insisting to not raise taxes with expenditures continuing to rise.

The Mayor's Democratic Party continues to spend & spend and of course blaming his predecessor, when in reality, he is indirectly blaming the leadership of the common council since it has been under his own party's control for many years.

fs
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5 comments:

  1. AnonymousMarch 16, 2013 at 11:13 AM

    As I recall the bond rating was increased under Tim Stewart's leadership. I guess it didn't take these bozo's long to undue the good accomplishments of the Stewart administration.

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  2. AnonymousMarch 16, 2013 at 2:23 PM

    I just read the Moodys report on their website. CURSE THEM!

    What is up with these guys?

    Moodys stated in the purpose of downgrade that it was previous years of deficit spending and something about a reserve fund in 2009. Why are they responding now? Who in the mayor's office force Moody's to blame stewart for this? There needs to be an investigation. Moodys is a internationally recognized organization and they should not be bowing to democratic pressures.

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  3. AnonymousMarch 16, 2013 at 4:21 PM

    I suppose when they upgraded the bond rating under Stewart's administration the they were really responding to Lucien Pawlich's wonderful management?

    What a bunch of crap.

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  4. AnonymousMarch 17, 2013 at 1:03 PM

    Must have been George Bush's fault!

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  5. AnonymousMarch 19, 2013 at 4:34 PM

    When it happens on your watch it's your problem O'Brien! Continuing to blame Tim Stewart for your failures shows your lack of integrity and leadership abilities. Go back to bagging groceries and perhaops your sidekick Sherwood can get a job for the UNCF with his degree in African American Studies????

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