Reorg Webinar Series: Recent Municipal Credit Trends in Continuing Care Retirement Communities

On Thursday, July 22, at 11 a.m. ET, members of our Americas Municipals coverage team discussed recent credit trends in continuing care retirement communities, or CCRCs, as the industry has seen a wide range of outcomes, including Vicar’s Landing’s recent borrowing of $84.4 million in connection with the expansion of its Ponte Vedra Beach community; the chapter 11 filings of The Harborside and The Buckingham; and defaulted credits that are still exploring their options, such as Glen Hope Harbor and American Eagle. The team also discussed how the Covid-19 pandemic has affected the industry, from advanced Medicare payments to bond covenants, including occupancy rates, days cash on hand and debt service coverage ratios.

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