Muni Tobacco Bonds Have First-Ever Default as Smoking Declines
The municipal bond market’s $80 billion tobacco bond sector had its first-ever default after a Nassau County, New York, agency failed to make a $36 million principal payment on June...
By Martin Z Braun · Bloomberg Markets
The municipal bond market’s $80 billion tobacco bond sector had its first-ever default after a Nassau County, New York, agency failed to make a $36 million principal payment on June 1.