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S&P Credit Research1916 word report
published Nov 03, 2009
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S&P Credit Research
| Abstract: | Residential real estate prices have plummeted in many parts of the nation and many commercial properties owners are still forced to default because they can no longer service the debt they incurred in leveraged purchases of recent years. In light of this continued collapse, MCRS looked at how real estate firms' recently issued debt has fared. Based on Capital IQ data, 23 individual issues have been priced by real estate companies so far in 2009, which is almost triple the eight issues with current, available pricing data that were brought to market in the first half of 2008. (For full-year 2008, 14 real estate debt offerings were priced, but several--such as three issues by Thornburg Mortgage Inc., which filed for
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| Brief Excerpt: | RESEARCH Ratings Definitions Cross-Market Commentary: Real Estate Issuers Are Raising Less With More Publication date: 03-Nov-2009 Market, Credit, and Risk Strategies: Michael Thompson, Managing Director, New York (1) 212-438-3480;...
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| Report Type: | Commentary
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| Sector: | Global Issuers, Public Finance, Structured Finance
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| Free Sample: |
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S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.
