Tag: Asset Backed Securities
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Commercial real-estate’s debt machine is broken down
[ad_1] Wall Street’s main artery for financing commercial real estate has sputtered this year as higher interest rates and sagging property values darken the outlook for borrowers with an estimated $2 trillion of debt coming due through 2024. Issuance of commercial mortgage-backed securities, or bonds sold by Wall Street banks to finance commercial buildings, has…
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Bed Bath & Beyond bankruptcy: Moody’s weighs CMBS loan impact
[ad_1] The fallout from Bed Bath & Beyond Inc.’s bankruptcy continues, with Moody’s weighing the impact of the troubled home goods retailer’s demise on commercial mortgage-backed securities (CMBS) loans. “Moody’s has identified approximately 135 CMBS loans with a total balance of approximately $3.6 billion—or less than 1% of the CMBS universe we rate—with exposure to…
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UBS profit halves due to U.S. litigation, but draws billions new money
[ad_1] UBS Group AG said Tuesday that earnings declined in the first quarter, hurt by litigation, but that the bank drew in billions in net new money at its global wealth-management business following the news of its acquisition of Credit Suisse Group AG. The Swiss bank UBS CH:UBSG said its result was affected by $665…