North American commercial mortgage-backed security (NA CMBS) structures allow for interest shortfalls; as such, there are classes of NA CMBS certificates where interest payments are in arrears, but the cumulative or ongoing interest shortfall is expected to be ultimately recovered and repaid. As of October 1, 2022, the disclosure for the Interest in Arrears designation for NA CMBS certificates rated B (low) or higher has changed and will be published in a monthly commentary. The commentary wil...
Facing its greatest disruption ever, Houston’s hotel sector could take years to recover from its coronavirus-induced slump. With Houston clocking in at the fourth-largest city in the country, the hotel market has gone from a fast expansion to crash as it is faced with a dual disaster. In addition to the global pandemic, the area is still picking up the pieces from last year’s oil price collapse, and this has left the city at a loss with no clear back to normal in sight.
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