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.

Additional information is available in Fitch's weekly e-newsletter, 'U.S. CMBS Market Trends', which also contains recent rating actions and an overview of newly released CMBS research, including Fitch presales and Focus reports. The link below enables market participants to sign up to receive future issues of the E-newsletter:

'http://www.magnetmail.net/forms/display_form.cfm?fid=22908&mid=929091&rid=297925736&rtype=mm&uid=Fitch'

Additional information is available at 'www.fitchratings.com'

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE.

Fitch RatingsStacey McGovern, +1-212-908-0722DirectorFitch Inc.1 State Street PlazaNew York, NY 10004orKaren Trebach, +1-212-908-0215Senior DirectororMedia RelationsSandro Scenga, +1-212-908-0278[email protected]

Source: Fitch Ratings