Cantor Fitzgerald L.P. Rating Lowered To 'BBB-' From 'BBB' On Lower Profitability; Outlook Stable Dec 12
- Language: English
- Published: December 2012
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...
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