Another Financial Portal, 12 Jan 2009, Mike Scorelle
Fitch Ratings has today commented on the concerns about Singapore CMBS' refinancing ability in 2009 amid the current global credit crunch, the competition of funding among various real estate and casino developments in Singapore, as well as the near-term softening of the commercial property market. The agency is of the opinion that the strong cash flow performance of the CMBS transactions and the generally low Loan-to-Value (LTV) of the transactions will mitigate the refinancing risk for these transactions.
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