CMBS - All Articles

  • Clock ticking for Codere as it defers Thursday coupon payment

    Spanish gaming company Codere will miss a coupon payment due on Thursday, hoping that the 30 day grace period in its bond documents will give it time to find at least €100m of emergency financing to get it through the liquidity crunch.

    • 28 Apr 2020
  • UK seeks to shelter retailers from rent collection

    The UK government unveiled proposals last week meant to protect retailers from liquidation if the coronavirus lockdown results in them being unable to pay rent. Landlords already bloodied and bruised from years of tenants negotiating debt writedowns, are next in line though if rental cashflows cease.

    • 27 Apr 2020
  • UK CMBS market not pinning hopes on government support

    British retail lobbying groups are clamouring for government support as tenants struggle to cover rent in the month since the lockdown began. But market players say help for the sector is unlikely, and CMBS is preparing for widespread delinquencies as the shutdown extends.

    • 22 Apr 2020
  • Fed extends TALF support to CMBS, CLOs

    The Federal Reserve on Thursday announced that the Term Asset Backed Lending Facility (TALF) will be expanded to include triple-A rated CMBS and CLO paper as eligible collateral, part of another sweeping set of relief measures to support the economy as damage from the virus pandemic mounts.

    • 09 Apr 2020
  • Rating agencies downgrade raft of UK, Italian CMBS

    Fitch Ratings has downgraded bonds from three UK CMBS transactions, while also lowering ratings for three Italian CMBS deals, as the sector continues to suffer the effects of the coronavirus pandemic.

    • 07 Apr 2020
  • CMBS braces for delinquencies as borrowers seek relief

    The CMBS market is preparing to face a potential wave of missed loan payments in April, with 2,600 CMBS borrowers requesting some sort of relief in March, according to Fitch Ratings.

    • 06 Apr 2020