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In their Securitization Weekly Overview, Bank of America Merrill Lynch analysts highlighted the “unusual” co-existence of the risk-on and risk-off trades that has emerged this year.
July 16 -
The lowering of CMBS tenant credit that started in April has continued to worsen with the Standard & Poor’s downgrade of J.C. Penney, according to the rating agency’s structured finance credit review emailed this morning. S&P said that the weighted average tenant rating is now close to ‘BB-‘.
July 16 -
The Royal Bank of Scotland (RBS) did a comparative analysis of the CMBS 3.0 super senior bonds and CLO 2.0 ‘AAA’ spreads to find where the similarities are in terms of relative value.
July 13 -
Moody’s Investors Service said that the CMBS conduit transactions that it expects to rate in 3Q12 suggest that the average Moody’s Loan- to-Value (MLTV) ratio, which is the rating agency’s main measure of balloon refinance risk, will increase to 102.1% from 97.8% in the third quarter. Given this expected 4.3% jump, the MLTV in the third quarter will average above 100% for the first time in CMBS 2.0.
July 12 -
CMBS data provider Trepp has partnered with BlackRock's iShares Exchange Traded Funds (ETFs) business to bring together the iShares Barclays CMBS Bond Fund into its CMBS analytics product, a release from Trepp said.
July 11 -
The U.S. CMBS pipeline is seeing some activity this week including a securitization from Morgan Stanley and Bank of America.
July 10 -
DebtX has launched a new data service that offers analysis and insight regarding the secondary market for Commercial Real Estate (CRE) loans.
July 10 -
Today the European Central Bank's (ECB) governing council announced how the mandatory provision of loan-by-loan ABS data will be introduced into the securitization single loan-level data repository known as the European DataWarehouse.
July 6 -
The delinquency rate for commercial real estate loans increased for the fourth consecutive month and reached a new all-time high in June, according to Trepp LLC.
July 2 -
Although ratings agencies have imposed tougher standards for the top-rated tranches of commercial mortgage-backed securities, it hasn't led to greater issuance of subordinated tranches.
July 2
