11/25/2009

That flushing sound: Not Just U.S. CMBS

As of this week, Fitch has now downgraded $70 billion of European CMBS, representing 69%of the CMBS it covers. In Japan, Fitch assumes that 100% of maturing CMBS loans will default when due. In the first half of 2009, 53% of maturing Japan CMBS defaulted.

Charles Cecil
Opin Parters, LLC

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