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Seven Of 10 Defaulted Loans Backing Rated Japanese CMBS Incurred Losses In Q4 2011, Says S&P Report Jan 12
Standard & Poors, January 2012
TOKYO (Standard & Poor's) Jan. 30, 2012--Standard & Poor's Ratings Services today said that it has released a Japanese-language report detailing its rating actions on commercial mortgage-backed securities (CMBS) in Japan in the fourth quarter (October to December) of 2011. Today's report notes that losses were incurred on seven of the 10 loans for which collections were completed in that quarter. Of the nine underlying loans of Japanese CMBS transactions rated by Standard & Poor's that matured in the fourth quarter, three defaulted due to nonrepayment in the same quarter, and six were repaid. Meanwhile, collections for 10 other loans that had defaulted prior to the fourth quarter were completed in the fourth quarter, and losses were incurred on seven...
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
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