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NEW YORK CITY-A shockwave in the CMBS market has shaken the commercial real estate industry to the core after Goldman Sachs & Co. and Citigroup Inc. yanked a near $1.5-billion commercial mortgage backed security from the market after Standard & Poor’s declined to rate the deal, the companies announced in a joint statement. The move was prompted by S&P’s decision to further review its CMBS ratings criteria with regard to debt service coverage and ratio calculations, but industry executives tell GlobeSt.com that the changes can damage upcoming deals in the pipeline.

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