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17 Ratings Lowered On Three LB-UBS U.S. CMBS Transactions Due To Interest Shortfalls Sep 11
Standard & Poors, Sep 2011
Abstract
OVERVIEW We lowered our ratings on 17 classes from three LB-UBS U.S. CMBS transactions due to current and potential interest shortfalls. We lowered our ratings on five of these classes to 'D (sf)' because we expect the accumulated interest shortfalls to remain outstanding for the foreseeable future. NEW YORK (Standard & Poor's) Sept. 14, 2011--Standard & Poor's Ratings Services today lowered its ratings on 17 classes of commercial mortgage pass-through certificates from three LB-UBS U.S. commercial mortgage-backed securities (CMBS) transactions due to interest shortfalls (see list). The downgrades reflect current and potential interest shortfalls. We lowered our ratings on five of these classes to 'D (sf)' because we expect the accumulated interest shortfalls to remain outstanding for the foreseeable future....
Companies mentioned in this report are: LB-UBS Commercial Mortgage Trust 2002-C1,LB-UBS Commercial Mortgage Trust 2002-C2,LB-UBS Commercial Mortgage Trust 2003-C5
Action: Downgraded
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.
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