Latest news
Latest news
Rating cut as note pays more interest than planned
Inflation caused by war threatens budding recovery in commercial real estate
The rise of the European master trust and the CLO market nears shut down
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U.K. prime residential mortgage-backed securities could enjoy a further rally as the market kicks back into action after the summer, London-based securitization analysts said Friday.
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A BWIC stocked with four commercial mortgage-backed securities bonds emerged this week, but only one successfully sold, as investors spurned mark-to-market risk amidst scant ABS trading activity.
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U.K. property investor Redefine International, sponsor of the Government Income Portfolio loan securitized in the Windermere XI U.K. commercial mortgage-backed deal, is proposing a far-reaching restructuring and extension of the loan.
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London-based officials expect the dearth of primary issuance to continue until late August, but they remain confident that new deals will surface before the month is out and be priced in the first week of September. -
The Hugo loan, securitized in Credit Suisse’s EUR1.32 billion ($1.63 billion) Cornerstone Titan 2007-1 pan-European commercial mortgage-backed trade, has been handed a further extension until October after it was partially repaid last month.
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Nonconforming U.K. residential mortgage-backed securities would largely be able to withstand severe stress scenarios that include all-time high unemployment, according to research from Barclays.
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Fitch Ratings lowered its forecast for 2012 structured finance output in Europe, the Middle East and Africa by EUR75 billion ($93.19 billion).
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Standard & Poor’s has revised the criteria it uses for rating commercial mortgage-backed securities that may result in higher ratings as it works to regain a foothold in the CMBS market.
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The EUR11.7 million ($14.54 million) Ruhr Loan, securitized in the German commercial mortgage-backed securities transaction Taurus 2006-1 (TUARS 3), was granted an extension standstill agreement, extending the deadline for a workout from May 31 to Oct. 31, 2012.
