KBRA Withdraws Rating on 40 Classes from 17 Transactions
7 May 2024 | New York
KBRA withdraws its ratings from the classes shown below following the reduction of their respective principal or notional balances to zero. For each class, the related April 2024 remittance reports with respect to the other transactions did not reflect any accumulated interest shortfalls or principal writedowns, other than a de minimus $11,131 loss (5 bps) on the Class G Certificates of the BX Commercial Mortgage Trust 2019-ATL transaction and a $6,573.70 loss (2 bps) on the Class F Certificates of the CGCMT 2018-TBR transaction. Both losses were due to miscellaneous administrative expenses incurred over the life of the respective deals. KBRA’s ratings are updated as follows:
- FRR 2018-C1, Class B-K725, from ‘BB- (sf)’ to ‘WR (sf)’
- FREMF 2014-K40, Class A-1, from 'AAA (sf)' to 'WR (sf)'
- FREMF 2015-K46, Class A-1, from 'AAA (sf)' to 'WR (sf)'
- FREMF 2015-K47, Class A-1, from 'AAA (sf)' to 'WR (sf)'
- FREMF 2015-K49, Class A-1, from 'AAA (sf)' to 'WR (sf)'
- FREMF 2017-K726, Class A-2, from ‘AAA (sf)’ to ‘WR (sf)'
- FREMF 2017-K726, Class A-M, from ‘AAA (sf)’ to ‘WR (sf)'
- FREMF 2017-K726, Class B, from ‘AA+ (sf)’ to ‘WR (sf)'
- FREMF 2017-K726, Class C, from ‘A+ (sf)’ to ‘WR (sf)'
- FREMF 2017-K726, Class X-1, from ‘AAA (sf)’ to ‘WR (sf)'
- FREMF 2017-K726, Class X2-A, from ‘AAA (sf)’ to ‘WR (sf)'
- FREMF 2017-K726, Class XAM, from ‘AAA (sf)’ to ‘WR (sf)'
- BBCMS 2019-C4, Class A-3, from 'AAA (sf)' to 'WR (sf)'
- BX Commercial Mortgage Trust 2019-ATL, Class A, from ‘AAA (sf)’ to ‘WR (sf)'
- BX Commercial Mortgage Trust 2019-ATL, Class B, from ‘AA- (sf)’ to ‘WR (sf)'
- BX Commercial Mortgage Trust 2019-ATL, Class C, from ‘A (sf)’ to ‘WR (sf)'
- BX Commercial Mortgage Trust 2019-ATL, Class D, from ‘BBB (sf)’ to ‘WR (sf)'
- BX Commercial Mortgage Trust 2019-ATL, Class E, from ‘BB (sf)’ to ‘WR (sf)'
- BX Commercial Mortgage Trust 2019-ATL, Class F, from ‘B (sf)’ to ‘WR (sf)'
- BX Commercial Mortgage Trust 2019-ATL, Class G, from ‘B- (sf)’ to ‘WR (sf)'
- CGCMT 2018-TBR, Class A, from ‘AAA (sf)’ to ‘WR (sf)'
- CGCMT 2018-TBR, Class B, from ‘AAA (sf)’ to ‘WR (sf)'
- CGCMT 2018-TBR, Class C, from ‘AA+ (sf)’ to ‘WR (sf)'
- CGCMT 2018-TBR, Class D, from ‘A+ (sf)’ to ‘WR (sf)'
- CGCMT 2018-TBR, Class E, from ‘BBB (sf)’ to ‘WR (sf)'
- CGCMT 2018-TBR, Class F, from ‘BB (sf)’ to ‘WR (sf)'
- CGCMT 2018-TBR, Class X-NCP, from ‘AAA (sf)’ to ‘WR (sf)'
- JPMBB 2014-C19, Class A-S, from ‘AAA (sf)’ to ‘WR (sf)'
- JPMBB 2014-C19, Class B, from ‘AA+ (sf)’ to ‘WR (sf)'
- JPMBB 2014-C19, Class C, from ‘A (sf)’ to ‘WR (sf)'
- JPMBB 2014-C19, Class EC, from ‘A (sf)’ to ‘WR (sf)'
- JPMBB 2014-C19, Class X-A, from ‘AAA (sf)’ to ‘WR (sf)'
- JPMBB 2014-C19, Class X-B, from ‘AAA (sf)’ to ‘WR (sf)'
- MSC 2019-H6, Class A-1, from 'AAA (sf)' to 'WR (sf)'
- WFRBS 2014-C20, Class A-5, from 'AAA (sf)' to 'WR (sf)'
- JPMDB 2020-COR7, Class A-1, from 'AAA (sf)' to 'WR (sf)'
- CGCMT 2014-GC23, Class A-3, from 'AAA (sf)' to 'WR (sf)'
- COMM 2014-CCRE19, Class A-4, from 'AAA (sf)' to 'WR (sf)'
- COMM 2014-UBS3, Class A-3, from 'AAA (sf)' to 'WR (sf)'
- GSMS 2014-GC20, Class A-S, from 'AAA (sf)' to 'WR (sf)'
To access rating and relevant documents, click here.