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Fitch Ratings has seen a more than 14% rise in commercial mortgage-backed securities delinquencies in the first quarter over the last quarter of 2002.
Fitch's delinquency index reading of 1.39% for the first quarter, up from 1.31% for the previous period, represents the largest quarterly increase in CMBS delinquencies since Fitch created a loan delinquency index at the end of 2001, the rating agency said.
"The increase in CMBS delinquencies is directly due to a dramatic rise in delinquent hotel and office loans," said Mary MacNeill, senior director, Fitch Ratings. The delinquency balance for hotel loans grew by $270 million in the first ...
Source: HighBeam Research, Fitch Sees Rise In CMBS Overdues.(Fitch Ratings and commercial...