BBGBloomberg·2hBusiness
score-0.65
$80 Billion Tobacco-Bond Market Faces First Default After Two Decades, Prompting Calls for Structural Reform
Original
A First-Ever Default Shakes an $80 Billion Corner of Muni Market
“Alarmist language ('shakes,' 'driven into default,' 'almost certainly won't be the last') emphasizes systemic risk and inevitability of further failure.”