Eight Pfandbriefe on Fitch RWN – too soon, says vdp

Fitch yesterday (Thursday) placed on Rating Watch negative (RWN) the mortgage Pfandbriefe of eight German banks and maintained a negative review on another’s over what it higher risk in commercial real estate lending and limited collateral information. The Association of German Pfandbrief Banks (vdp) has called the timing of the rating action “incomprehensible”.