Resolution of distressed legacy CMBS has helped improve delinquencies in the market but it doesn’t mean that these deals have escaped downgrades.

In June, Trepp reported that the CMBS delinquency rate posted a 42-basis-point drop to 8.65%, the lowest level in almost three years. June was the first time the rate has dropped below 9% since November 2010 and the lowest percentage since October 2010.

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