The sharp drop in delinquencies of securitized commercial loans in January belies ongoing struggles in the hard-hit Atlanta region, according to the latest index results from Fitch Ratings.

Overall CMBS late-pays declined by eight basis points in January to 7.91% from 7.99% a month earlier. This marks the eighth straight month of declines and the lowest level since October 2010, when it stood at 7.78%.

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