Financial Times FT.com

Threat to triple A rating of $235bn in CMBS

By Nicole Bullock in New York

Published: June 27 2009 03:00 | Last updated: June 27 2009 03:00

Some $235.2bn in bonds backed by commercial mortgages could lose their triple A ratings after Standard & Poor's tightened criteria for rating commercial mortgage backed securities.

It is the latest blow for the commercial real estate sector where prices have dropped about 25 per cent over the past year as the recession has reduced the demand for office buildings, retail store space, hotels and large multifamily flats.

You have viewed your allowance of free articles. If you wish to view more, click the button below.

Read this