Paul S. Donohue

Standard & Poor’s Revises Criteria for Collateral for U.S. CMBS Defeasances in Response to U.S. Debt Downgrade
John F. Baron,Paul S. Donohue, August 22, 2011
As an immediate consequence of Standard & Poor’s recent downgrade of the U.S. sovereign longterm debt rating from AAA to AA+, the defeasance industry was almost brought to a standstill as the U.S treasuries that are typically utilized as collateral in defeasances transactions no longer...