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Article: Fitch: Capmark Ch. 11 May Affect Capmark VII CRE CDO Ratings.
- Article from:
- Investment Weekly News
- Article date:
- November 14, 2009
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Capmark VII remains on Rating Watch Negative by Fitch Ratings following Capmark Financial Group's Chapter 11 bankruptcy filing earlier this week. Downgrade risk remains for the transaction due to continued underperformance. Fitch's Rating Watch review of Capmark VII will incorporate potential implications of the bankruptcy on the management of the CDO and on the loans with future funding obligations.
Further, Fitch does not anticipate any servicing disruption of the individual loans within the CDO serviced by Capmark Finance Inc.
On Oct. 26, 2009, Fitch Ratings downgraded Capmark Financial Group's (Capmark) Issuer Default Rating (IDR) to 'D' from 'C' in ...