At the Commercial Mortgage Securities Association (CMSA) 10th Annual convention held here last week, rating agencies talked about their relationships with various industry participants, specifically issuers, and explained what different participants are doing right or wrong.

To issuers, Jack Toliver, senior vice president at Dominion Bond Rating Service, said, "Show us the money." He, of course, was not referring to the high fees that rating agencies supposedly charge but to having sufficient cashflow in CMBS deals.

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