The senior living industry is still a real estate sector with high risk in the U.S. municipal bond market, even as the broader market is showing signs of turning around. Total municipal bond default disclosures dropped to 38 in the first quarter of 2023, down from 73 in 4Q2022, according to new data from Moody’s […]
Municipal Market Analytics
Senior living facilities represented the largest portion of delinquencies reported by municipal bond issuers in the first quarter of 2022, highlighting the sector’s struggles during the Covid-19 pandemic. The majority of the 83 credit events in the first quarter of 2022, mostly among small, unrated borrowers – particularly senior living communities. In fact, the industry […]
A record number of senior living borrowers defaulted on their municipal bond debt for the first time in 2021 — but investors have reportedly remained unfazed. Senior living companies accounted for 33 of the 64 first-time payment defaults last year, exceeding the industry’s prior record of 31 set in 2020 and totaling about $1.7 billion […]
Thirty-one senior living borrowers have missed a payment on their municipal bond debt for the first time in 2021, representing about $1.6 billion of muni bonds in default and tying the record number of senior housing defaults set last year. That’s according to the latest statistics from Municipal Market Analytics (MMA). The findings build on […]
Municipal bond defaults are climbing in 2021 — and the senior housing sector is at the top of the pile, according to an Oct. 6 analysis from market research firm Municipal Market Analytics. For the full year of 2021, the firm has so far recorded 47 first-time payment defaults, representing about $2.4 billion in credit. […]
Twenty-three retirement communities have reported first-time payment defaults on municipal bonds in 2020. Since 2009, the retirement sector has never before posted more than 22 defaults in a given calendar year, according to a recently released report from Municipal Market Analytics (MMA). That previous high of 22 was recorded in 2016. So far in 2020, […]
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