Standard & Poor’s says the European commercial mortgage-backed securities market is still struggling to recover even as its counterpart in the U.S. has improved markedly. S&P notes that only one of seven European CMBS loans set to mature in February met their obligations, a fact that has weighed on loan level activity, loan delinquencies and transfers to special servicing. February’s figures extended a trend that began last year of loans in European CMBS more likely to default, extend or enter into a standstill than meet their obligations, according to S&P.

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