Japan CMBS Sector: Negative Actions Continued To Outnumber Positive Actions, Yet The Number Of Downgrades Dropped Sharply In 1Q 2011 Jun 11
- Language: English
- Published: June 2011
- Region: Japan
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
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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
SHOW LESS READ MORE >