Default, Distress and Echoes of Detroit

Moody's annual Municipal Default Study on distress and defaults, plus lessons learned from Detroit’s bankruptcy  10 years later  

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An overview of Moody's annual Municipal Default Study offers insight into COVID’s repercussions on the muni market and leads to a discussion on how issuers will grapple with inflation and emerging stress. Plus, Detroit’s landmark bankruptcy filing 10 years ago continues to reverberate in the market – and in our analysis at Moody’s.

  • Why are there so few recent examples of distress among rated municipal credits despite a pandemic and sputtering economy?
  • How have unrated municipal credits dealt with distress and how does that compare with rated issuers?
  • What can we expect as pandemic relief aid tapers off and a new normal takes shape with remote work?
  • How has Detroit changed municipal credit analysis?
  • Will Detroit’s credit continue to improve as economic development strengthens but pension funding challenges return?
  • Speakers keyboard_arrow_down
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    Rachel Cortez Associate Managing Director, US Public Finance Moody's Ratings Bio
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    Naomi Richman Senior Vice President, US Public Finance Moody's Ratings Bio
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    David Strungis VP-Senior Analyst Moody's Ratings Bio
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    Sarah Jensen Vice President - Senior Analyst Moody's Investors Service Bio
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    Dan Seymour Vice President - Senior Analyst Moody's Investors Service Bio