European CMBS Loan Maturities Update: 45% of CRE Loans Originated at Peak of the Cycle Defaulted Due to High Leverage
STRUCTURED FINANCE SECTOR COMMENT 7 March 2017 TABLE OF CONTENTS Executive Summary 1 45% of the loans with original maturity dates between Q3 2012 and Q4 2016 defaulted 2 Moody's whole loan LTV ratio together with Moody's debt yield are strong predictors of loan default 2 The years of loan origination and maturity also determine maturity outcomes 5 Location, Property Type and Loan Size a
Moody's Investors Service is a leading provider of credit ratings, research, and risk analysis. Moody's commitment and expertise contributes to transparent and integrated financial markets, protecting the integrity of credit. Our ratings and analysis track debt covering more than:
- 130 countries
11,000 corporate issuers
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76,000 structured finance obligations
Credit ratings and research help investors analyze the credit risks associated with fixed-income securities. Such independent credit ratings and research also contribute to efficiencies in fixed-income markets and other obligations, such as insurance policies and derivative transactions, by providing credible and independent assessments of credit risk.
Moody’s default studies validate our predictive ratings. Our published research and investor briefings draw thousands of attendees each year and keep investors current with the rationale underlying our credit opinions.
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