NEW YORK–(BUSINESS WIRING) – Kroll Bond Ratings (KBRA) is releasing a US Commercial Mortgage Lending Trends (CMBS) report for its staff in June 2021. The delinquency rate in June fell to 5.2% from 5.4% in May. This is the 12th consecutive month that the rate has declined or remained unchanged from the previous month since peaking at 8.2% in June 2020.
The improvement is mainly attributable to the hospitality sector, which is down 90 basis points this month after falling 100 basis points in May. The improvement in the sector was significant, with 35 loans (US $ 505 million) current. In contrast, retail delinquency rates have not improved this month. Although three large loans (over $ 100 million each) became relevant this month, there were seven new delinquent loans. These include two in an LL transaction, BBUBS 2012-TFT, which was not redeemed at maturity, and five in conduits.
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