Weighing The CMBS Impact Of Harvey And Irma
Tens of billions of dollars of properties backing CMBS loans are potentially at risk from storm damage in the Southeast and along the Texas coast; exactly how much isn’t yet clear.
NEW YORK CITY—A pair of back-to-back hurricanes in the space of a week may cause a near-term rise in CMBS delinquencies, according to Fitch Ratings and S&P Global Ratings. The exposure of billions of dollars in securitized commercial mortgages to the effects of Hurricanes Harvey and Irma comes as maturity performance is largely in line with expectations and the delinquency rate continues to decline.
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