The dollar volume of defaulting loans in Japanese CMBS rated by Moody's Investors Service decreased somewhat in the latest monthly reporting period.

Defaulting loans totaled about 271.7 billion yen ($3 billion) at the end of March, representing a decline of about 6% from February, according to Moody's.

The rating agency said it also found that between January and March "special servicing activities for defaulting loans had intensified compared with the previous year."

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