Director of Credit Analysis
Stoever Glass & Co., Inc.
P: (862) 432-8818
There are $3.7 trillion of outstanding municipal bonds, with hundreds of millions more issued each year. Munis have been termed “the second safest investment after U.S. Treasury debt”. Despite Detroit’s bankruptcy in 2013 and Puerto Rico’s defaults this year, defaults over all muni bonds through their final maturity are less than 1%, and even less when you consider bondholders’ recoveries after a default.
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