Press Release
DBRS Morningstar Releases Commentary Analysing the Impact of the Coronavirus on Italian CMBS Retail Assets
CMBSSummary
DBRS Morningstar released a commentary titled, “Italian COVID-19 Impact Negative for Italian CMBS Backed by Retail Assets”. The recent outbreak of the coronavirus (COVID-19) is beginning to have an economic impact wherever cases increase. In Italy, the recent concern and quarantines are expected to negatively affect the Italian economy.
DBRS Morningstar released a commentary titled, “Italian COVID-19 Impact Negative for Italian CMBS Backed by Retail Assets”. The recent outbreak of the coronavirus (COVID-19) is beginning to have an economic impact wherever cases increase. In Italy, the recent concern and quarantines are expected to negatively affect the Italian economy.
Our commentary explores COVID-19’s potential impact on the Italian commercial real estate market. Some highlights include
--The virus outbreak’s effect on supermarkets, online retailers, and brick-and-mortar retailers.
--The long-term impact of the virus on CMBS transactions and the European retail market as a whole.
DBRS Morningstar currently rates four Italian CMBS transactions, amounting to EUR 839.4 million by debt outstanding (or EUR 1.3 billion by market value) and split between seven different retail loans secured by 15 properties. Performance metrics for the Italian retail assets are available on DBRS Morningstar’s Viewpoint platform here: https://viewpoint.dbrsmorningstar.com/explore?p=0&ac=cmbs.
The commentary is available at www.dbrsmorningstar.com.
For more information on the commentary, visit www.dbrsmorningstar.com or contact us at [email protected].
DBRS Ratings Limited
20 Fenchurch Street, 31st Floor, London EC3M 3BY United Kingdom
Registered and incorporated under the laws of England and Wales: Company No. 7139960
DBRS Ratings GmbH
Neue Mainzer Straße 75
60311 Frankfurt am Main Deutschland
Geschäftsführer: Detlef Scholz
Amtsgericht Frankfurt am Main, HRB 110259