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European CMBS Monthly Bulletin (November 2011): More Bad News As The Latest Loan Maturity Performance Is Dismal Nov 11
Standard & Poors, Nov 2011
Abstract
European commercial mortgage-backed securities (CMBS) loan maturity performance in October was more dismal than Standard & Poor's Ratings Services anticipated, with only five of the 35 loans scheduled to repay in that month doing so in full. What's more, based on more recent data, the tally of defaulted loans is set to rise further. These events are contributing to the rising number of loans going into special servicing, which, in turn, has led to increased costs, and in some cases, interest shortfalls on notes. This month, we take a look at the delinquencies by sector and note that the sectors that are showing the most vulnerability to delinquency are the smaller sectors (nursing homes and DIY), while retail and multifamily...
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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