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European CMBS Monthly Bulletin (March 2011): The Struggle To Meet Loan Maturity Payments Continues Mar 11 Product Image

European CMBS Monthly Bulletin (March 2011): The Struggle To Meet Loan Maturity Payments Continues Mar 11

  • Published: March 2011
  • Region: Europe
  • Standard & Poors

FEATURED COMPANIES

  • ARES FINANCE 2 S.A.
  • DECO 8 - UK Conduit 2 PLC
  • FIP Funding S.r.l.
  • Meadowhall Finance PLC
  • PICTS PLC
  • Taurus CMBS No. 2 S.r.l.
  • MORE

Abstract
Loans in European commercial mortgage-backed securities (CMBS) are following the trend set in 2010 when they showed a greater propensity to fall into default, extend, or enter into standstill than to meet their maturity payment obligations. February is no exception to this when, out of the seven loans scheduled to mature, only one loan has met its maturity obligation. (The one loan scheduled to mature in March also failed to meet its maturity obligation.) These loan performances colored February's loan level activity and contributed significantly to loan delinquencies and transfers to special servicing. In February, loan repayments, loss allocations, and note interest shortfalls as well as new issuance drove rating activity at the note level. We lowered our rating on...

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new READ MORE >

- Epic (Brodie) PLC
- DECO 15 - Pan Europe 6 Ltd.
- Prominent CMBS Conduit No. 2 Ltd.
- Vesteda Residential Funding II B.V.
- FIP Funding S.r.l.
- DECO Series 2005-UK Conduit 1 PLC
- Delamare Finance PLC
- Sandwell Commercial Finance No.1 PLC
- PICTS PLC
- Annington Finance No. 4 PLC
- Broadgate Financing PLC
- Pacific Quay Finance PLC
- Forest Finance PLC
- Morpheus (European Loan Conduit No. 19) PLC
- Land Securities Capital Markets PLC
- White City Property Finance PLC
- Mall Funding PLC (The)
- Taurus CMBS No. 1 PLC
- Tesco Property Finance 2 PLC
- Tesco Property Finance 1 PLC
- Asset Repackaging Vehicle Ltd.
- MESDAG (Delta) B.V.
- DECO 17 - Pan Europe 7 Ltd.
- Titan Europe 2007-1 (NHP) Ltd.
- Infinity 2007-1 ''Soprano'' FCC
- EuroProp (EMC VI) S.A.
- Windermere XIV CMBS Ltd.
- Vulcan (European Loan Conduit No. 28) Ltd.
- STABILITY CMBS 2007-1 GmbH
- White Tower Europe 2007-1 PLC
- Epic Opera (Arlington) Ltd.
- Windermere XII FCC
- Portfolio GREEN German CMBS GmbH
- Ulysses (European Loan Conduit No. 27) PLC
- Talisman-7 Finance Ltd.
- JUNO (ECLIPSE 2007-2) Ltd.
- Epic (Drummond) Ltd.
- Taurus CMBS (Pan-Europe) 2007-1 Ltd.
- Windermere XI CMBS PLC
- Titan Europe 2007-3 Ltd.
- Titan Europe 2007-2 Ltd.
- Fleet Street Finance Three PLC
- Trafford Centre Finance Ltd. (The)
- Deutsche Pfandbriefbank AG
- Deutsche Bank Luxembourg S.A.
- Highbury Finance B.V.
- Canary Wharf Finance II PLC
- Hypo Real Estate Bank International AG
- Triton (European Loan Conduit No. 26) PLC
- Talisman-6 Finance PLC
- ASAR International S.A.
- Epic (Culzean) PLC
- DECO 12 - UK 4 PLC
- DECO 14 - Pan Europe 5 B.V.
- MESDAG (Charlie) B.V.
- HERCULES (ECLIPSE 2006-4) PLC
- DECO 10-Pan Europe 4 PLC
- Opera Germany (No. 2) PLC
- Taurus CMBS (U.K.) 2006-2 PLC
- Cirene Finance S.r.l.
- Talisman-5 Finance PLC
- Bluebonnet Finance PLC
- Titan Europe 2006-5 PLC
- Indus (ECLIPSE 2007-1) PLC
- Meadowhall Finance PLC
- Cornerstone Titan 2007-1 PLC
- Silenus (European Loan Conduit No. 25) Ltd.
- GEMINI (ECLIPSE 2006-3) PLC
- Taurus CMBS (Pan-Europe) 2006-3 PLC
- RIVOLI Pan Europe 1 PLC
- DECO 11 - UK Conduit 3 PLC
- Bruntwood Alpha PLC
- NEMUS II (Arden) PLC
- Titan Europe 2006-2 PLC
- DECO 7 - Pan Europe 2 PLC
- Prominent CMBS Funding No. 1 PLC
- BL Superstores Finance PLC
- Longstone Finance PLC
- European Property Capital 3 PLC
- DRACO (ECLIPSE 2005-4) PLC
- Sandwell Commercial Finance No. 2 PLC
- Cornerstone Titan 2005-1 PLC
- MESDAG (Berlin) B.V.
- Eddystone Finance PLC
- DECO 8 - UK Conduit 2 PLC
- Windermere VII CMBS PLC
- Cornerstone Titan 2005-2 PLC
- LCP Proudreed PLC
- FCC Proudreed Properties 2005
- Titan Europe 2006-1 PLC
- DECO 6 - UK Large Loan 2 PLC
- DECO Series 2005-Pan Europe 1 PLC
- REC Retail Parks Ltd.
- London & Regional Debt Securitisation No. 1 PLC
- Taurus CMBS No. 2 S.r.l.
- EQUINOX (ECLIPSE 2006-1) PLC
- Patrimonio Uno CMBS S.r.l.
- Titan Europe 2006-3 PLC
- European Property Capital 4 PLC
- Quirinus (European Loan Conduit No. 23) PLC
- NEMUS Funding No. 1 PLC
- Epic (Industrious) PLC
- Talisman-4 Finance PLC
- Cornerstone Titan 2006-1 PLC
- DECO 9 - Pan Europe 3 PLC
- Ursus 2 (Octane) PLC
- LEO-MESDAG B.V.
- FORNAX (ECLIPSE 2006-2) B.V.
- Infinity 2006-1 "Classico"
- Windermere VIII CMBS PLC
- EuroProp (EMC) S.A. (Compartment) 1
- Taurus CMBS (Germany) 2006-1 PLC
- ARES FINANCE 2 S.A.
- Premiertel PLC
- La Defense III PLC
- GECO 2002 Ltd.
- Juturna (European Loan Conduit No. 16) PLC
- Midgaard Finance Ltd.
- Fordgate Commercial Securitisation No. 1 PLC
- Tesco Property Finance 3 PLC
- Tesco Property Finance 4 PLC
- Windermere X CMBS Ltd.
- Imser Securitisation 2 S.r.l.

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