Japanese-Language Report Released On CMBS Rating Actions In Japan In 1Q 2011 May 11
- ID: 1807900
- May 2011
- Region: Japan
- Standard & Poors
TOKYO (Standard & Poor's) May 27, 2011--Standard & Poor's Ratings Services today said it has released a Japanese-language report detailing its rating actions on commercial mortgage-backed securities (CMBS) in Japan in the first quarter (January to March) of 2011. Today's report notes that negative actions have continued to outnumber positive actions, but the number of negative rating actions has dropped significantly. Seven of 15 underlying loans of rated Japanese CMBS transactions that matured in the first quarter of 2011 defaulted due to nonrepayment in the same period. Meanwhile, collections for eight loans were completed in the first quarter of 2011. These numbers confirm that servicers have been making progress in recovering defaulted loans from underlying collateral properties. In terms of...
Action: General Comment
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