Raters square up over single-family rental
Fitch sent a warning shot to the single family rental securitization market on Tuesday, as American Homes 4 Rent announced its second deal in the asset class. The new transaction has a preliminary rating of triple-A from Kroll and is slated to receive a rating from Moody’s. But Fitch said refinancing risk and leverage were reasons for not rating deals higher than single-A in the controversial new market.
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