Delinquencies on commercial mortgage-backed securities continued to climb last month on a combination of large-loan defaults and worsening performance at multifamily and retail properties, Fitch Inc. said Monday.

The total monthly delinquency rate rose 19 basis points from April, to 2.07%, the highest percentage since Fitch began compiling the data in 2001. The data mirrors a report Moody's Investors Service Inc. issued last week.

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