Satellite image of hurricane A satellite image of Hurricane Irma virtually covering the state of Florida. The storm’s magnitude may have put up to $68 billion of CMBS at risk.

NEW YORK CITY—A pair of back-to-back hurricanes in the space of a week may cause a near-term rise in CMBS delinquencies, according to Fitch Ratings and S&P Global Ratings. The exposure of billions of dollars in securitized commercial mortgages to the effects of Hurricanes Harvey and Irma comes as maturity performance is largely in line with expectations and the delinquency rate continues to decline.