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26th October 2009 |
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Welcome – Along with bankers, rating agencies have been made scapegoats of the financial crisis we are in. The agencies failed to spot the subprime crisis looming and the enormous bubble in the European property markets. For years, they had given good notes of the securitisation of large pools of loans. Rightly so, the rating agencies lost much, if not all, of their credibility. You would think that they would adopt a more even-handed, thoughtful approach, but it seems that the rating agents have now become overcautious. The latest example is Fitch downgrading a loan for the purchase of 70 stores in the Netherlands in 2005. The stores are doing fine thank you very much, but Fitch downgraded the issue just on the assumption that if the stores were to go bust. Such actions do not help regaining confidence.
Bert Erik ten Cate - Editor, EuroProperty
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Company Briefings |
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 Situs Companies
The US based consultancy has bought a German debt-service company to add to its stable of advisory service divisions.
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Published twice a month, EuroProperty provides the most comprehensive and up-to-date overview of the European property market. Every issue gives you authoritative information from unrivalled sources including all the latest property news, analysis, company profiles, regional surveys and research, as well as regular features focusing on geographic regions and market areas across the industry.
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