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Article: Fitch: Various Franchise Loan ABS Unaffected by Capmark Ch. 11.
- Article from:
- Business Wire
- Article date:
- October 29, 2009
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CHICAGO -- The Chapter 11 bankruptcy of Capmark Financial Group Inc. (Capmark), along with the potential subsequent sale and servicing transfer, will not adversely impact ratings on franchise loan asset-backed securities (ABS) serviced by Capmark, according to Fitch Ratings:
Capmark Finance Inc. is currently the servicer on several Fitch-rated franchise loan asset-backed securities (ABS) and is expected to be sold to Berkadia Commercial Mortgage LLC (Berkadia).
On Oct. 26, Fitch Ratings downgraded Capmark's Issuer Default Rating (IDR) to 'D' from 'C' in response to the company's filing of a voluntary petition seeking relief under Chapter 11 of the U.S. ...