An article in The Bond Buyer today reported that municipal bond defaults set a new record in 2014 topping $9.02 billion a 362% increase from 2012! Nonprofit hospital and local non-general obligation sectors show the most significant increases in terms of number of issuers to default the article stated.
A continuation of this high level of defaults in 2015 revolves around Puerto Rico Electric Power Authority and a potential for a need for restructuring as soon as March.
