CMBS question
Posted: May 5th, 2005, 4:20 pm
A certain CMBS has a Moody's stressed DSCR of 2.2, put to, as I understandit, make available an extra pool of cash to help meetinterest/principal obligations of the notes. Does this mean thatthe notional amount of the notes or of the underlying revenuestream is overcollateralized? Is the overcollateralization a mere2.1%, or instead 110%?Thanks in advance