Key Takeaways
- The return of students to university campuses in fall 2021 resulted in some stabilization for privatized student housing projects, with further occupancy improvements, on average, in fall 2022.
- Three rated projects defaulted on their debt service payments since March 2020, all of which were rated in the ‘B’ category or below prior to the pandemic.
- Three rated projects drew from their debt service reserve funds, all of which are currently in the ‘B’ category.
- More than 75% of currently rated projects received some form of university support or used reserves to meet their debt service requirements during the pandemic.
17 Oct, 2022