Five classes of Salomon Brothers Commercial Mortgage Trust commercial mortgage pass-through certificates, series 2001-MM, have been downgraded by Moody's Investors Service.The downgrades were as follows: class D, from A3 to Baa2; class G-1, from B2 to B3; class E-6, from Baa2 to Ba3; class F-6, from Ba2 to B3; and class G-6, from B2 to Caa2. In addition, Moody's upgraded one class and confirmed one class in the transaction. The rating agency said class G-1 was downgraded due to the poorer performance of the 2777 East Camelback Road Loan, while the other downgrades were due to the overall decline in property performance of Loan Group F. As of the June 20 distribution date, the transaction's aggregate balance had decreased by approximately 38.9% since securitization, the rating agency said. Moody's can be found online at http://www.moodys.com.
-
According to the Federal Reserve Board's latest financial stability report, persistent inflation and policy uncertainty are the primary worries for banks. Survey respondents expressed heightened anxiety over murky policy outlooks due to geopolitical turmoil and rapidly approaching domestic elections.
2h ago -
Leaders of ORNL Federal Credit Union are piloting Zest AI's new artificial intelligence-powered assistant to ensure equitable underwriting practices and measure performance against similar institutions.
4h ago -
McCargo stabilized the agency at a crucial time as she helped navigate it through both a pandemic and subsequent dramatic interest-rate cycle change.
5h ago -
The quasi-public entity's plan to buy certain closed-end seconds would constitute "unnecessary government encroachment," the Structured Finance Association said.
7h ago -
The mortgage subsidiary of Hilltop Holdings posted another quarterly loss and volume slipped, but management also sees signs of optimism.
7h ago -
The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
April 18