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, reports Senior Housing News.
That’s according to the latest statistics from Municipal Market Analytics (MMA). The findings build on previous MMA reports, including one last month that showed 27 senior housing muni bond defaults this year.
Distress in the sector is likely to worsen before it stabilizes and rebounds, according to MMA Partner Matt Fabian. Read more.
