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.
Exactly how much property has been stricken by flooding, wind damage and other effects of Harvey and Irma isn’t yet clear.
Read more...Weighing the CMBS Impact of Harvey and Irma | GlobeSt.com
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