1313 ET - Fitch Ratings on Friday said it expects no effects on ratings on U.S. CMBS transactions from the Los Angeles wildfires, given the limited exposure to commercial real-estate properties in the affected areas. "Fitch-rated CMBS transactions are exposed to $21.4 billion of CRE loans (836 properties), or 3.7% of the portfolio by balance, in Los Angeles County, which the Federal Emergency Management Agency has identified as the area eligible for individual assistance," the agency said. Fitch added if the focus is narrowed to 19 zip codes which currently have mandatory evacuation orders and warnings and with new or continuing fires, possible affected exposure falls to an estimated $793 million. The properties in this area are mostly retail and multifamily, Fitch said. However, the situation remains in flux, with new fires igniting, Fitch said. (stephen.nakrosis@wsj.com)
(END) Dow Jones Newswires
January 24, 2025 13:13 ET (18:13 GMT)
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