Fitch Lauds AAA U.K. CMBS…Not Much Else

Only AAA rated U.K. commercial mortgage-backed securities could come through a recession comparable with the early 1990s unscathed, according to research by Fitch Ratings.

  • 30 Jul 2008

--Alex Sebastian

Only AAA rated U.K. commercial mortgage-backed securities could come through a recession comparable with the early 1990s unscathed, according to research by Fitch Ratings. The agency applied stress tests taking into account rent levels to 67 CMBS transactions composed of 263 loans and found expected loss of ...

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1 BNP Paribas 10,542 20 17.55
2 Bank of America Merrill Lynch (BAML) 6,103 21 10.16
3 Citi 5,130 13 8.54
4 JP Morgan 4,681 6 7.79
5 Morgan Stanley 4,137 11 6.89

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3 Wells Fargo Securities 57,637.40 170 8.18%
4 JPMorgan 53,570.42 158 7.61%
5 Credit Suisse 45,349.30 117 6.44%