Amid the steady stream of bad news about the retail real estate sector,
CMBS analysts have found a glimmer of hope: mall loans originated in
2012 and underpinning $4.05 billion of CMBS deals are performing better
than previous vintages and have better prospects for refinancing.
Low interest rates, healthy debt service coverage ratios and a robust
economy have enabled more than 75 percent of these mortgages to post
stable or improving cash flows since they were underwritten, according
to an assessment from Morningstar Credit Ratings.. . .