The Impact Of Subordinate Debt on Rating CMBS Transactions
Mondaq Business Briefing › United States Law Articles in English (2001)
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The Impact Of Subordinate Debt on Rating CMBS Transactions
Co-written by Jennifer A McCool
Originally Published In: Real Estate Developments Fall 2001After several years of prohibiting all forms of subordinate debt, the growth and maturity of the commercial mortgage securitization market has moved to accepting subordinate debt, but only with strict requirements from senior lenders as to acceptable forms of such debt. Aside from certain "permitted debt" such as short-term trade debt and tenant obligations, senior lenders had traditionally disfavored any form of subordinate financing. This concern stemmed from ...See the full content of this document
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