Municipal Market Analytics, Inc.

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Fidelity

Threat of coronavirus-driven mass evictions weighs on economy, budgets

Though not a common site of evictions, senior housing bears the most risk in terms of default on bond payments.

A record 23 retirement communities have reported first-time payment defaults on municipal bonds in 2020, according to Municipal Market Analytics.

Since 2009, the retirement sector has never before posted more than 22 defaults in a given calendar year, according to MMA. The previous high of 22 came in 2016.

In addition to having the most first-time payment defaults, the sector also has had the most emergency draws (13) on contingent security provisions such as reserve funds and bond insurance to avoid default.

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