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The Bond Buyer has an article out on high risk municipal bonds and Finra's focus on them. (BB) Anyone who has been around the muni market knows there are risks, especially with exotic revenue bonds. Some types of issues that gave concern included:
- Private Community-Development District Bonds - 16.56% default rate
- Nursing Home Bonds - 3.97% default rate
- Assisted-Living Facility Bonds - 4.48% default rate
Finra cited a study by Richard Doty, which can be found here.
Our previous coverage of Finra focus areas can be found here.