The growing number of defeased loans as well as the transfer of loans to special servicing led Standard & Poor’s to increase Rating Agency Confirmations (RACs) in 2013, according to a report published this week.

RACs are written indications that amendments made to a loan pool do not change a structured finance rating as a result of the change, according to S&P. 

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.