According to the Reserve Bank of Australia (2006) the increased supply of Commercial Mortgage-Backed Securities (CMBS), with a range of subordination, has broadened the investor base in real estate debt markets and reduced the commercial property sector’s dependence on bank financing The CMBS...

CMBS are an important segment of the real estate debt markets which reduce the commercial property sector's dependence on bank financing. Until the advent of the credit squeeze in Q3:2007, the CMBS market was one of the most dynamic and fastest-growing sectors in the capital markets, for a...

Using artificial neural networks (ANN) and ordinal regression (OR) as alternative methods to predict LPT bond ratings, we examine the role that various financial and industry variables have on Listed Property Trust (LPT) bond ratings issued by Standard and Poor’s from 1999-2006. Our study...