The city of Hartford recently discussed the state of the city with bondholders during a scheduled call yesterday, which was intended to initiate a constructive dialogue for restructuring alternatives.

The call was open to all bondholders and bond insurers who hold or insure general obligation debt of the city of Hartford.

Because the call was open to all holders and insurers without confidentiality restriction, the city limited the call to public information and did not take questions.

“Today’s call was an opportunity to speak directly to a substantial group of our bondholders to provide our perspectives on Hartford’s current situation,” Treasurer Adam Cloud said in a statement. “Although we were limited in what we could say, we viewed this call as a necessary first step in our discussions with bondholders regarding the future of Hartford.”

“We need all stakeholders to recognize that this is a structural problem that requires a structural fix, and that this administration is not interested in pushing off this challenge for another mayor or another generation to fix,” Hartford Mayor Luke Bronin said in a statement.

He also addressed the role that bond restructuring could play in helping to avoid a Chapter 9 filing, stating that, “The restructuring of debt could represent one important part of a multipart plan for achieving sustainability outside of Chapter 9, but that path will only be available if all the other elements of a sustainable solution are in place, including a substantial and sustained increase in revenue from the state of Connecticut, as well as the participation of other stakeholders.”