问题如下：
Which of the following statements regarding commercial mortgage-backed security (CMBS) is correct?
选项：
A.Call protection will improve the credit rating of CMBS.
B.Some CMBS are recourse loan.
C.Balloon payment in CMBS is credit positive for investor.
解释：
A is correct.
CMBS are no recourse loans. Balloon payment increased extension risk for investor, which is credit negative.
No.PZ2017012501000012 (选择题)
来源: 原版书
A commercial mortgage-backed security (CMBS) does not meet the debt-to-service coverage at the loan level necessary to achieve a desired credit rating. Which of the following features would most likely improve the credit rating of the CMBS?
正确答案是: A
A
正确Subordination
B
Call protection
C
Balloon payments
这道。选择的就是A。而不是B.
同样是improve the credit rating of the CMBS,为什么一个是选择Subordination，一个是选择Call protection ？
