Bond defaults

Some elder housing borrowers have also drawn on debt service reserves, violated covenants, or sought to restructure their bonds, said Moody's Investors Service.

Fairfield, Alabama, weighed down by fiscal problems long before the coronavirus hit, filed for bankruptcy saying it is insolvent.

The Westin Lombard hotel and conference center in Chicago's suburbs dipped into debt reserves to cover operations after closing in response to the pandemic.

Public finance has changed a lot since the Great Depression, so a repeat of that era’s default experience is not preordained even if this contraction matches the worst predictions.

The historic nature of how ratings for municipal issuers play out in times of severe volatility is under scrutiny from various market participants.

Technical and fundamental concerns surrounding credit and supply could present challenges for the market going forward but participants tepidly welcomed signs of stability.

The bond's Official Statement warned not to expect payments on time.

Harvey, Illinois, is trying to reach settlements on legal claims being pursued by bondholders and on overdue Chicago water payments.

Judge John Cooper told the Florida Department of Transportation to increase Garcon Point Bridge tolls after FDOT failed to follow his order to do so in December.

The Illinois attorney general's office is also believed to be looking into the foundation, which issued $170 million of tax-exempt bonds that have defaulted.

Moody's calls the missed payments an administrative default given the district's willingness and ability to pay.

Bankruptcy hearings are underway for Lindan Properties, one of five troubled bond-financed Better Housing Foundation affordable housing portfolios in the area.

The state conduit that issued $170 million of defaulted Better Housing Foundation bonds is weighing in as S&P prepares housing bond criteria changes.

A proposed asset sale would resolve — with a loss for bond investors — one of five Better Housing Foundation-owned portfolios in default in the Chicago area.

The impoverished Chicago suburb is working on a settlement to provide bondholders with some revenue while allowing the city to operate.

The Better Housing Foundation's Chicagoland suburban bond portfolios are now experiencing bond covenant and payment defaults.

The bond trustee says its appeal of a ruling that Platte County is under no legal obligation to repay $32 million of Zona Rosa bonds will be heard.

The Clearwater Cay Community Development District dismissed its Chapter 9 case and will pursue a dispute about property assessments in state court.

The Florida Department of Transportation was ordered to raise toll rates on the Garcon Point Bridge for the first time in eight years.

The Illinois city faces garnishment of state funds to make up for pension shortfalls, threatening its ability to deliver core services, Moody's said.