Following a trend developing over recent years, CMBS defaults have risen through 2001, according to the most recent CMBS conduit loan default study by Fitch Ratings.

The rise in CMBS defaults has caused an increase in the cumulative default rate to 1.80% from 1.02% in terms of the number of loans in Fitch-rated CMBS deals. The rating agency also stated that annual defaults more than doubled to 266 in 2001 from 127 in 2000.

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