40. The Impact of COVID-19 from a Rating Agency’s Perspective with Eric Thompson from KBRA

In a special episode, we welcome Eric Thompson, Global Head of Structured Finance at Kroll Bond Rating Agency and Chair-Elect of the CRE Finance Council, to discuss the differences between this pandemic and the Great Financial Crisis, rating new CMBS deals, potential structural changes coming out of this crisis, and challenges that come with a high volume of forbearances. Episode Notes: Comparisons to the Great Financial Crisis (1:22) Structural changes coming out of this recession? (3:40) Rating new CMBS issuance during the pandemic (10:59) Resilient property types (15:12) The vibe in New York City (16:43) Challenges with a high volume of forbearances (21:00)