Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers C > Headlines for Claros Mortgage Trust, Inc. > News item |
S&P alters Claros outlook to negative
S&P said it changed its outlook for Claros Mortgage Trust Inc. to negative from stable and affirmed its B+ issuer and senior secured ratings.
The agency said Claros’ commercial real estate portfolio includes higher-risk transitional loans, such as construction, land and operating properties, which exposes it to credit and market risks. As of December 31, 2022, Claros Mortgage Trust Inc.'s asset quality had weakened with loans rated 4 or higher making up about $1.35 billion, or 17% of the portfolio from 11% the prior quarter.
The weaker outlook reflects the position that if asset quality continues deteriorating, Claros’ liquidity could be strained, S&P said.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.