NEW YORK CITY—Performance metrics for legacy CMBS are doing justfine. As Trepp reported last week and as FitchRatings notes in its own report, delinquencies for thesesecurities continue to fall.
However, some new issuance measures are worsening—namely theleverage metrics, according to Fitch Ratings' latest quarterlyindex report.
It reported that credit enhancement levels for US CMBS rose infirst quarter of 2014, as underlying loan leverage increased.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
