- About 7% of outstanding senior-living bonds in payment default
- With business model changing, new projects are riskier
One sector is an outlier when it comes to the traditionally-tiny default rates in the $4 trillion municipal bond market.
Roughly 7% of the $43 billion in outstanding senior-living bonds, or about $3.2 billion, is in default on a payment, according to data compiled by Bloomberg. That compares to a rate of less than 1% for all state and local government debt.
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