Fitch: Slight Fluctuation Continues for U.S. CREL CDOs Delinquencies
NEW YORK--(BUSINESS WIRE)-- Delinquencies for U.S. CREL CDO delinquencies reversed two months of slight increases this past month, according to the latest index results from Fitch Ratings
CREL CDO late-pays fell to 12.4% in November from 12.5% in the prior month. In November, asset managers reported only four new delinquent assets. Among them were one term default, one matured balloon loan, one new credit impaired security, and one repurchased asset. Offsetting these new delinquencies, 11 assets were removed from the index in the month, including seven CMBS bonds that previously had interest shortfalls
In November, CREL CDO asset managers reported only $10.2 million in realized losses from the disposal of eight assets. The weighted average loss on these assets was low at 16%. The largest single loss, which was less than $5 million, was related to the disposal of a real estate owned (REO) office property.
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