New York, October 05, 2015 -- The capitalization (cap) rate increases likely to follow a move by the Federal Reserve to raise interest rates will have little effect on the ratings it assigns to new issuance commercial mortgage-backed securities (CMBS), Moody's Investors Service says in a new report. Among seasoned transactions, recovery rates for specially serviced loans may decline and the percentage of loans unable to refinance at maturity may go up, but generally to levels already contemplated in its analysis.
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