CMBS resolution activity is set to pick up late in the second half, Fitch Ratings predicts in its latest annual US CMBS Loss Study.
"The ongoing vaccine rollout portends a rise in both leisure travel and a widespread return of commercial activity, both of which will have a positive net effect on CMBS," said Senior Director Karen Trebach in prepared remarks.
But she cautioned previously struggling properties—particularly in the retail sector—are not expected to successfully emerge from the pandemic economy, while others, like those in the hotel sector which experienced unprecedented cessations in revenues, are expected to survive and return to pre-pandemic levels as conditions improve.
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