- Language: English
- Published: December 2011
The Evolution Of U.S. CMBS 2.0: New Trends Emerge And Some "Old" Ones Reappear May 11
- ID: 1802232
- May 2011
- Region: United States
- Standard & Poors
The U.S. CMBS market experienced a somewhat swift evolution between late 2009 and early 2011, as single-borrower transactions gave way to a market characterized by relatively larger, more complex multiborrower deals. During the last few months, we've observed a few new trends, a few "old" ones, and a continuation of some that we reported on earlier in the year (see "15 Months Later... The Caution Flag Is Out For CMBS 2.0," published Feb. 23, 2011). With the exception of the recently priced Cantor Fitzgerald conduit/fusion deal (CFCRE Commercial Mortgage Trust 2011-C1; $634.5 million), this year's transaction sizes have ranged from $1.3 billion to $2.2 billion, and we expect future issuances to stay generally in this range through the end of...
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 and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.