Infrastructure debt ranks better than many non-financial corporate debt offerings, according to Moody’s fourth annual report on the historical credit performance of all rated infrastructure debt (1983–2015).
The report updates Moody’s previous study on infrastructure default and recovery rates published in March 2015; its key findings with the expanded data set are generally consistent with the previous study, confirming infrastructure debt’s comparatively solid performance.
Moody’s infrastructure ratings are assessed on expected loss and on that measure are predominantly investment-grade — 92 percent of total infrastructure ratings held an investment-grade rating compared to 41 percent for NFC ratings as of Dec. 31, 2015.
For more, see “Infrastructure debt gets high marks second year running.”
The views, statements and opinions expressed in this article are those of the author and are not necessarily those of Institutional Real Estate, Inc.
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Drew Campbell is senior editor of Institutional Investing in Infrastructure.
