Finance CMBS
Fitch Sees 88 Percent Refinancing Rate for U.S. Floating-Rate CMBS
April 28, 2008

Floating-rate U.S. CMBS have or should be able to refinance 88 percent of the time, according to Fitch Ratings, which recently reviewed the maturity profile in its rated floating-rate large loan transactions. Fitch currently rates a total of 34 floating-rate large loans transactions, consisting of 326 loans totaling $27 billion. Since August 2007, 121 loans, totaling $8.9 billion by original loan balance, were scheduled to mature, 64 paid in full (54 percent by balance), and 54 extended (44 percent by balance). The remaining three loans are past maturity (2 percent by balance) and with the respective special servicers.

 
Recent CMBS Headlines
Margolin Joins Arbor Commercial as Director
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Finance Groups Doubt SEC Plan to Tag CMBS Pools
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Proposed changes to bond ratings are raising the hackles of real estate finance groups, which worry that the Security and Exchange Commission’s new rules would slow the recovery of the CMBS market.
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