Defaults on larger loans were again chiefly responsible for another increase in CMBS loan delinquencies, to 0.88%, according to Fitch Ratings.

The December climb stemmed largely from two loans with outstanding principal balances greater than $100 million. November featured two defaults in excess of $70 million. Additional delinquencies on larger loans will likely continue to drive the index higher in 2009, according to Fitch.

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