Senior Living Facilities Face ‘Financial Turmoil,’ Moody’s says

The coronavirus has led to “financial turmoil” for senior living facilities and nursing homes that are grappling with a combination of higher costs to protect patients and an inability to generate new revenue though new admissions during a public-health crisis that is disproportionally afflicting the elderly, Moody’s Investors Service said.

• “No other sector has seen the singular confluence of both revenue and expenditure difficulties as the elder housing sector,” the rating company wrote
• At least 9 borrowers have drawn from debt-service reserve funds, violated their bond covenants, or requested a discussion with bondholders to renegotiate the terms of their debt, ...