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<a href="http://www.accessmylibrary.com/coms2/summary_0286-25815105_ITM" title="Facts and information about Fitch Lowers CMBS Servicer.(Fitch Ratings, Bank of New York Asset Solutions)(Brief Article)(Statistical Data Included)">Fitch Lowers CMBS Servicer.(Fitch Ratings, Bank of New York Asset Solutions)(Brief Article)(Statistical Data Included)</a>
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Fitch Lowers CMBS Servicer.(Fitch Ratings, Bank of New York Asset Solutions)(Brief Article)(Statistical Data Included)
Fitch Ratings has downgraded Bank of New York Asset Solutions' primary and special servicer ratings, while affirming the company's master servicer rating.
The downgrades - primary servicer rating to 'CPS3' from 'CPS2', and special servicer rating to 'CSS3' from 'CSS2' - were prompted by high employee turnover at BNYAS, Fitch reports, especially in the ranks of management.
Since the rating agency's last review of the servicer, BNYAS has lost several key employees with strong CMBS servicing experience.
While the rating downgrades were deemed necessary, Fitch has determined that BNYAS is still able to service and specially service CMBS ...
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Source: HighBeam Research, Fitch Lowers CMBS Servicer.(Fitch Ratings, Bank of New York Asset...