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» CMBS Issuance Posts 2nd Best Year in Issuance, but Worst Year in Terms of Downgrades, Defaults
CMBS Issuance Posts 2nd Best Year in Issuance, but Worst Year in Terms of Downgrades, Defaults
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For commercial mortgage-backed securities, 2003 turned out to be a tale of two seemingly different markets. One was characterized by near-record CMBS issuance, while the other was colored by rising delinquencies and a record number of defaults.