Credit trends in global commercial real estate (CRE) loans will continue to deteriorate through 2025, which will impact commercial mortgage backed securities (CMBS), banks, life insurance companies, non-bank financial institutions and public finance issuers, Fitch Ratings says. Losses should remain within ratings expectations for most issuers, given the wide dispersion of risks within the financial system. Floating-rate loans carry the highest credit risk given most CRE sectors have shed value over their typical maximum five-year term. Weaker issuers with higher concentrations of riskier exposures could face ... (full story)