CMBS

J.P. Morgan and Deutsche Bank are working on a $285 million CMBS backed by the Hotel del Coronado in San Diego, according to a Morningstar presale report.

Deutsche Bank and Bank of America Merrill Lynch priced the $710 million of CMBS notes backed by the fee interest in Worldwide Plaza, a 47-story office tower located at 825 Eighth Avenue in New York City, according to a person familiar with the deal.

Only vulnerable super-senior classes in CMBS are exposed to the risk of interest shortfalls that affected the super senior class of Morgan Stanley Capital I, 2007-HQ13, according to Fitch Ratings.

Fitch Ratings announced on Wednesday that the $190mn StratReal Industrial Portfolio I in BACM 2007-1 entered special servicing after struggling with weak underlying performance for two years.

Single asset/single borrower deals continue to dominate the CMBS pipeline this week with another two deals, for a combined $1.43 billion planned this week.

Standard & Poor's preliminarily rates the $252m senior piece single-A.

Rialto Capital is prepping a $213.6 million deal backed largely by non-performing commercial mortgage loans, according to pre-sales from Kroll Bond Ratings and Moody's Investors Service.

Greater use of credit bureaus by Russian originators is a credit positive for securitizations in that country.

The catalysts were changes in the models used by Fitch, adverse selection in older mortgage pools, and the sovereign crisis in Europe.