-

KBRA Releases Research – CMBS Loan Performance Trends: March 2022

NEW YORK--(BUSINESS WIRE)--KBRA releases a report on U.S. commercial mortgage-backed securities (CMBS) loan performance trends observed in the March 2022 servicer reporting period. The delinquency rate remained unchanged from the previous month, at 3.3%. The rate has been following a downward trend since a June 2020 peak of 8.2%.

The delinquency rate for lodging and industrial improved month-over-month (MoM), to 6.3% from 7.1% and 0.1% from 0.3% in February, respectively. Retail and mixed-use recorded the highest delinquency increases (60 bps and 50 bps, respectively), followed by multifamily (10 bps). Looking at the percentage of all specially serviced loans (delinquent and current), lodging (9.8%) and other (2.6%) had the largest MoM drops (90 bps and 60 bps, respectively) while retail (7.5%) and mixed-use (6.1%) had a 50-bp increase.

Click here to view the report.

Related Publications

About KBRA

KBRA is a full-service credit rating agency registered in the U.S., the EU, and the UK, and is designated to provide structured finance ratings in Canada. KBRA’s ratings can be used by investors for regulatory capital purposes in multiple jurisdictions.

Contacts

Roy Chun, Senior Managing Director
+1 (646) 731-2376
roy.chun@kbra.com

Giselle Vuong, Associate
+1 (646) 731-2435
giselle.vuong@kbra.com

Eric Thompson, Senior Managing Director
+1 (646) 731-2555
eric.thompson@kbra.com

Business Development

Michele Patterson, Managing Director
+1 (646) 731-2397
michele.patterson@kbra.com

Industry:

KBRA

Details
Headquarters: New York City, New York
CEO: Jim Nadler
Employees: 400+
Organization: PRI
Release Versions
English
Hashtags
#KBRA
#creditratingagency

Contacts

Roy Chun, Senior Managing Director
+1 (646) 731-2376
roy.chun@kbra.com

Giselle Vuong, Associate
+1 (646) 731-2435
giselle.vuong@kbra.com

Eric Thompson, Senior Managing Director
+1 (646) 731-2555
eric.thompson@kbra.com

Business Development

Michele Patterson, Managing Director
+1 (646) 731-2397
michele.patterson@kbra.com

More News From KBRA

KBRA Assigns Preliminary Ratings to BX 2026-AIRC

NEW YORK--(BUSINESS WIRE)--KBRA announces the assignment of preliminary ratings to four classes of BX 2026-AIRC, a CMBS single-borrower securitization. The collateral for the transaction is a $3.340 billion floating rate, interest-only mortgage loan. The loan is expected to have an initial two-year term with three, one-year extension options and require monthly interest-only payments. The loan will be secured by the borrower’s fee simple and leasehold interests in 29 multifamily properties. In...

KBRA Assigns Preliminary Ratings to Diamond Infrastructure Funding LLC, Series 2026-1

NEW YORK--(BUSINESS WIRE)--KBRA assigns preliminary ratings to the Series 2026-1, Class A-1, Class A-2 Notes, Class B Notes and Class C Notes (the Series 2026-1 Notes) from Diamond Infrastructure Funding LLC (the Issuer), a communications infrastructure securitization. The transaction represents a refinancing of the Issuer’s existing Series 2021-1 Secured Cellular Site Revenue Notes. The transaction is structured under a master indenture that permits the issuance of additional series and classe...

KBRA Expects to Rate MidCap Financial Issuer Trust's Senior Unsecured Notes A-

NEW YORK--(BUSINESS WIRE)--KBRA expects to rate MidCap Financial Issuer Trust's issuance of senior unsecured notes A-. The rating Outlook is Stable. MidCap Financial Issuer Trust is a wholly-owned subsidiary of MidCap FinCo Intermediate LLC ("the company" or "MidCap"), which serves as guarantor of the debt. The proceeds will be used to repay senior secured debt. Headquartered in Bethesda, MD, the company is a limited liability company that has operated since 2008 and focuses on middle-market sp...
Back to Newsroom