As a follow-up to its conduit loan default study that it released in May, Fitch would be coming out sometime this month with a report that would look at the reasons why CMBS loans defaulted and what happened next after these defaults occurred.

In the May report entitled "Perfect to a Default" the rating agency looked at 24,000 conduit loans in 167 Fitch-rated CMBS deals approximately worth $141 billion. Of these loans, 248 defaulted which resulted in a cumulative default rate of 1.02%.

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