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Standard & Poor's North American CMBS Monthly Snapshot - April 2011 May 11

  • ID: 1806155
  • May 2011
  • Region: North America, United States
  • Standard & Poors
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The CMBS delinquency rate increased by 5 basis points (bps) in April, the same as the increase in March. The delinquency rate ended April at 9.17%, and the amount of delinquent loan collateral backing rated CMBS totaled $49.34 billion. Two new transactions ($2.52 billion principal balance) that Standard & Poor's Ratings Services rated in April partially diluted the overall delinquency rate by 7 bps. In total, approximately $3.53 billion in loans became delinquent in April, while $2.38 billion returned to current status and $1.09 billion was liquidated. Delinquency trends were mixed by property type: delinquencies increased for multifamily, retail, and lodging, but they declined for office and industrial. Retail was the only property type to record a new delinquency rate...

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.

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