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Fitch: Litigation Creates Concern at ORIX.(Brief Article)
Fitch Ratings has placed the commercial mortgage special servicer rating of ORIX Capital Markets on Rating Watch Negative status, saying the company's aggressive use of litigation may not suit the interests of investors in commercial mortgage-backed securities.
Fitch said ORIX's special servicing strategies are more consistent with a rating of "CSS2" or even "CSS3" than with its current "CSS1" rating.
"ORIX often pursues resolution of perceived errors or loopholes in loan or deal documents by initiating aggressive litigation," said Stephanie Petosa, senior director at Fitch. "This strategy presents a higher risk to ...
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Source: HighBeam Research, Fitch: Litigation Creates Concern at ORIX.(Brief Article)