Are commercial mortgages on thin ice?
Monday, August 1, 2011
A shudder passed through the commercial mortgage market Thursday when Standard & Poor’s withdrew its rating on a $1.5 billion commercial mortgage-backed security issued by CitiGroup and Goldman Sachs, indicating growing investor edginess about the CMBS market.
But the worries came closer to Minnesota on Thursday night when the New York-based ratings agency pulled its preliminary rating on another big issue: a Freddie Mac security backed by $1.2 billion in multifamily loans.
Originally published: 08/01/2011, Finance & Commerce