KBRA Releases Research – KBRA-Rated SFR Exposure to Hurricane Ian
NEW YORK--(BUSINESS WIRE)-- KBRA releases research on potential single-family rental (SFR) exposure in our rated universe to Hurricane Ian, which made landfall along Florida’s southwestern coast on September 28 before making landfall a second time near Georgetown, South Carolina. Initial news reports indicate massive storm damage, some of the worst in Florida’s history.
The Federal Emergency Management Agency (FEMA) on September 30 issued a disaster declaration for all of Florida’s and South Carolina’s counties, authorizing them for public assistance. As of October 3, FEMA has identified 19 of Florida’s counties as greatly impacted and eligible for individual assistance and public assistance (the IA counties). KBRA has identified loans within our rated universe of SFR securitizations that are collateralized by properties in the greatly impacted areas. Based on our analysis, 47 KBRA-rated transactions have underlying loan collateral within the impacted counties, 35 of which are in the single-borrower SFR universe, while the remaining 12 are multi-borrower transactions.
KBRA will continue to monitor the situation and work with loan servicers to determine the extent of the damage and any potential ratings impact. As events continue to unfold, our thoughts are with the individuals and families affected by the hurricane.
Click here to view the report.
About KBRA
KBRA is a full-service credit rating agency registered in the U.S., the EU, and the UK, and is designated to provide structured finance ratings in Canada. KBRA’s ratings can be used by investors for regulatory capital purposes in multiple jurisdictions.
View source version on businesswire.com: https://www.businesswire.com/news/home/20221004006160/en/
Greg Springrose, Director
+1 (215) 882-5936
[email protected]
Catherine Liu, Associate
+1 (646) 731-1313
[email protected]
Gretel Braverman, Senior Director
+1 (215) 882-5843
[email protected]
Roy Chun, Senior Managing Director
+1 (646) 731-2376
[email protected]
Business Development Contact
Michele Patterson, Managing Director
+1 (646) 731-2397
[email protected]
Source: KBRA
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Seven New Hotels, Including Hotel Maya Long Beach, Sign with UNITE HERE Local 11, Raising the Total to 41 Agreements
- Rocket Lab Successfully Deploys Satellites ~500km Apart to Separate Orbits For KAIST and NASA
- Crypto Hub Announces Partnership with Areon Network, Becoming the First Official Areon Launchpad
Create E-mail Alert Related Categories
Business Wire, Press ReleasesSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!