REC 6 junked on workout cost worries
Fitch downgraded the senior notes in Alburn Real Estate Capital’s REC 6 CMBS from ‘A’ to ‘BB’ on Tuesday because "the prospects of further weakening in sentiment and substantial workout costs means that further sharp declines in value cannot be ruled out from Fitch’s rating analysis".
Unlock this article.
The content you are trying to view is exclusive to our subscribers.
To unlock this article:
- ✔ 4,000 annual insights
- ✔ 700+ notes and long-form analyses
- ✔ European securitization issuance database
- ✔ Daily newsletters across markets and asset classes
- ✔ 1 weekly securitization podcast