Fitch Considers Downgrading Wachovia Securities’ CMBS Servicer

Wells Fargo is a huge servicer of commercial mortgage backed securities. Wachovia is also a huge CMBS servicer. Fitch is a company that rates bonds, including many, many CMBS. Wells Fargo and Wachovia are merging. This will make them one massive servicer of CMBS. That fact is making Fitch a little nervous.  Fitch may down grade Wachovia’s CMBS servicer ratings. Fitch has placed them on “Rating Watch; Negative” while it makes up its mind.  Read all the nitty gritty details over at marketwatch.com.

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