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Fitch Expects More Large CMBS Loan Delinquencies in 2009

Published Wednesday, January 21, 2009

Delinquencies on commercial mortgage-backed securities (CMBS) tracked by Fitch Ratings increased to 0.88% for December, up from 0.64% for November, largely because of defaults on bigger loans. Two loans with principal balances greater than $100 million each contributed to the rise in the delinquency level, according to the New York-based credit rating agency. Fitch expects that more delinquencies on larger loans will arise in 2009, pushing delinquencies up to about 2% by the end of the year. “What began as weakness in the performance of smaller properties located in tertiary markets now includes larger collateral in secondary and ...

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