Commercial real estate loan collateralized debt obligation delinquencies remained stable at 13.2% in Fitch Ratings’ latest monthly report.
“Asset managers have steadily reduced the overall balance of delinquent assets through resolutions over the past year, which has helped keep
The one new delinquency in April was collateralized by a Mexican property in Los Cabos, a newly matured balloon B-note secured by a full-service hotel there.
Fitch also noted that two assets in the previous month’s index “are no longer considered delinquent. These assets include a mezzanine loan backed by a hotel portfolio disposed of at a nearly full loss, and a rated security that is no longer considered credit impaired.”
In April, asset managers indicated that there were about $70 million in realized principal losses from the disposal of three assets, with most of that loss due to the aforementioned mezzanine loan.
