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.

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Originally published: 08/01/2011, Finance & Commerce