Mexican CMBS, the poor cousin to RMBS, is finally having a few pesos thrown its way. By some accounts, the second-ever CMBS in the domestic market is coming.

Led by IXE, the deal amounts to 275 million inflation-indexed units (UDIs) ($94 million), with a 15-year legal final. Collateral consists of rental leases from stores belonging to five commercial centers located in different states and owned by holding company Grupo Acosta Verde. Standard & Poor's has rated the deal mxAA+', but the originator hasn't yet settled on whether Fitch Ratings, Moody's Investors Service, or both would supply ratings, said a source close to the transaction.

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