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Fitch may downgrade New York City apartment CMBS

Wed Feb 25, 2009 11:39am EST

NEW YORK, Feb 25 (Reuters) - Proposed New York State regulations that would prevent developers from raising fees on rent-stabilized apartments could force downgrades to commercial mortgage bonds whose revenues depend on those cash flows, Fitch Ratings said on Wednesday.

Regulatory News  |  Bonds

Bonds under review include four backed by a $3 billion loan for the Stuyvesant Town/Peter Cooper Village complex in Manhattan, Fitch said in a statement.

(Reporting by Al Yoon, Editing by Chizu Nomiyama)

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