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Muni Defaults Not the Start of Broader Trend

Although several U.S. municipalities have declared bankruptcy, muni bonds overall remain extraordinarily safe in terms of default risk, says Morningstar's Jeff Westergaard.

Jeremy Glaser: For Morningstar, I'm Jeremy Glaser. Should muni investors be worried about credit risk? I'm here today with Jeff Westergaard, Morningstar's director of municipal analytics, to look at some of the trends in that space. Jeff, thanks for joining me today.

Jeff Westergaard: Thank for having me, Jeremy.