Puerto Rico turmoil contrasts with relatively stable US municipal sector
August 8th, 2019 (8.32mins)
Al Medioli, David Strungis
Al Medioli and David Strungis of the Ratings Process and Oversight team discuss the contrast between the few defaults in public finance with Puerto Rico’s bankruptcy-like proceedings, which promise to have major ripple effects across municipal finance.
US Municipal Bond Defaults and Recoveries, 1970-2018
This study updates our statistics and observations concerning the default, loss, and rating transition experience of Moody's-rated US municipal bond issuers in 2018, as well as for the historical period since 1970.