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A CMBS with four separate tranches is issued, with tranche 1 being the most senior, tranche 2 the second most senior, etc. The underlying properties
A CMBS with four separate tranches is issued, with tranche being the most senior, tranche the second most senior, etc. The underlying properties are worth a total of $mil. The par value of the tranches is as follows:
$ mil $ mil $ mil $ mil
What is the credit support for tranche
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