CMBS Commercial Mortgage Backed Securities
Those pesky bigger brother bonds to RMBS (residential mortgage backed securities). A larger problem?
(Free) Moody's Sees Downgrades of up to 6 Notches for Jr. Aaa Bonds
Thursday, 05 February 2009
The rating agency is undergoing a massive review of every conduit CMBS deal issued between 2006 and 2008 and every large-loan transaction to reflect newly adopted assumptions regarding property cash flows and values. It expects to downgrade most conduit bonds, including junior Aaa classes, by up to six notches. So a Aaa bond could instantly become an A1 bond.
(Free) Volume of CMBS Defaults Climbs to $8.7Bln
Monday, 02 February 2009
Another $1.65 billion of CMBS loans fell into delinquency in December, increasing the total volume of delinquencies to $8.68 billion, according to Realpoint, which predicts that the volume could hit $15 billion this year. The volume of loans in special servicing also continued to grow and now stands at $12.8 billion.
No comments:
Post a Comment