CMBS

Fitch Ratings released unsolicited comment today that stated that investment grade ratings assigned to the most junior class of the City Center Trust 2011 CCHP CMBS would most probably warrant no more than a ‘BBsf’ rating. The conclusion is based on the rating agency's current analysis of hotel properties.

Dechert has hired Jodi Schwimmer to join the firm’s finance and real estate practice as counsel.

The Moody’s/REAL Commercial Property Price Index (CPPI) reported its largest ever one-month increase of 6.3% in May. This is also the first rise in six months for the index.

NorthMarq Capital has arranged a $98.353 million tax-exempt bond securitization (TEBS) for a national bond portfolio owned by TCH I Depositor.

The American Securitization Forum (ASF) released a statement today applauding the House Financial Services Committee’s approval of legislation aimed at stabilizing the ABS market.

The U.S. CMBS delinquency rate declined sixteen basis points in June to reach 9.02%, according to Moody’s Investors Service’s Delinquency Tracker (DQT). The rate of loans in special servicing dropped for the second straight month with a decrease of 27 basis points, settling at 12.35%.

Legislation is moving forward that would more definitively exempt rating agencies from a liability that shut down securitized markets at one point last year, according to an industry trade group.

The CRE Finance Council (CREFC) submitted its comments to regulators on the joint regulatory proposal on credit risk retention for ABS.

This legislation might as well be called "The Kick the Can Act" and for once, its backers aren't ashamed to admit it. In fact, they're damn proud of it. It's the whole point.

Friday's European bank stress tests revealed that all securitization positions in European banking and trading books were stressed, according to market reports.