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Commercial Real Estate CDO Delinquencies Still Rising

Published Tuesday, November 11, 2008

An inability to refinance maturing loans fueled the fourth straight monthly rise in the delinquency rate for collateralized debt obligations composed of U.S. commercial real estate loans (CREL CDOs), according to the latest CREL CDO Delinquency Index from Fitch Ratings. Fitch deems a loan delinquent when payments are 60 days overdue. The U.S. commercial real estate CDO delinquency rate climbed to 3.13% in October from 2.39% in September, the rating agency found. Of the 14 newly delinquent loans, 90% were matured debts with balloon payments due. In fact, two thirds (67%) of all delinquent loans tracked by Fitch’s ...

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