Fitch: CMBS Delinquencies Up 6 BPs on Maturity Defaults
An uptick in non-performing matured loans drove overall U.S. CMBS delinquencies six basis points (bps) higher in October to end the month at 0.51%, according to the latest U.S. CMBS loan delinquency index by Fitch Ratings.
"With CMBS issuance at a standstill and portfolio lenders cautiously managing their balance sheets, borrowers are facing increased difficulty accessing capital to refinance maturing loans," said Susan Merrick, Managing Director and CMBS Group Head.
"Given the illiquidity in the market, we expect the proportion and dollar balance of maturity defaults to continue to grow at a fast pace with delinquencies approaching close to 75 bps by the end of this year."
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"With CMBS issuance at a standstill and portfolio lenders cautiously managing their balance sheets, borrowers are facing increased difficulty accessing capital to refinance maturing loans," said Susan Merrick, Managing Director and CMBS Group Head.
"Given the illiquidity in the market, we expect the proportion and dollar balance of maturity defaults to continue to grow at a fast pace with delinquencies approaching close to 75 bps by the end of this year."
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