Almost 9% of its collateral is already delinquent. (BTW, 2600 Michelson is one of Maguire Properties discussed in another post.) An additional 25% is under watch:
If we consider a CDR of 20 (which is in line with the latest remittance reports on ABX collateral of 06 and 07 vintage), Bloomberg's model projects a 49.84% loss on both AM and A1AM notes.
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