A suit that left CMBS affiliated with the bankrupt General Growth Properties exposed to potential losses and highlighted the limits of securitizations' "bankruptcy remote" nature is close to finalizing a settlement that would alleviate the loss concern, according to Fitch Ratings.

"Settlement terms have been reached between a group of special servicers and GGP for 73 CMBS loans securitized in various CMBS transactions included in the April 2009 Chapter 11 filing of GGP," the rating agency said.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.