Fitch: Rivals’ Mint 2015 hotels CMBS ratings too high

Fitch Ratings has made a rare move and commented on a CMBS deal it didn’t rate, saying it would have taken a more conservative stance on JP Morgan’s dual-jurisdiction £251m/€131m Mint 2015, than rating rivals Standard & Poor’s and DBRS. Mint is secured by two loans on three DoubleTree by Hilton hotels, two in London and one in Amsterdam. The 2.7-year multi-tranche offering, launched this week, is secured by an equivalent £450m loan to Blackstone on the three hotels that now remain in the ‘Mint’ portfolio.