Glen Fest

While the balance of newly delinquent loans fell by 50% from November, the ratings agency warned that many borrowers will likely struggle to bring loans current under ongoing pandemic conditions.

Reports indicate distressed owners would rather surrender their hotel or retail properties instead of negotiate workouts on delinquent loans as the pandemic spread carries on.

Bausch, formerly Valeant Pharmaceuticals, has paid down more than $24 billion of the $32 billion in leverage it owed five years ago from a debt-driven acquisition spree — which ended after a drug-pricing scandal.

The agency cited improving used-car prices that have elevated resale values of off-lease vehicles that drivers are turning back into dealerships.

The reference pools of mortgages supporting the credit-risk transfer notes sold by Fannie Mae and Freddie Mac were 'generally lower' in delinquencies per newly issued monthly reports, says DBRS Morningstar.

The former property-assessed clean energy program administrator plans to sell off assets via Chapter 11, but PACE securitizations through its bankruptcy-remote trusts will continue to be backed by homeowner ad valorem assessments.

The three-year loan will boost the hotel-centered REIT's dwindling cash reserves battered by the COVID-19 global impact on travel.

The nonbank lender is co-sponsoring a $258.4 million residential mortgage pool comprised entirely of wealthy borrowers with 15-year term contracts.

Downgrades applied to deals sponsored by Carlyle Aviation and Avolon Aerospace reflect the continued deterioration of airline credit quality and aircraft values afflicting nearly all issuers, the ratings agency reported.

The $425 million loan securitization is among two single-asset, commercial-mortgage deals launching this week. Brookfield Asset Management's global real estate arm is also tapping investors to finance an $825 million loan backed by a downtown Manhattan office building.