Trusted CMBS Intelligence
KBRA Credit Profile (KCP) empowers CMBS and CRE CLO investors with deep insights and actionable intelligence to monitor risk, uncover opportunities, and respond confidently to market change.
KCP Special Report: GameStop Hits Reset - Store Closures and CMBS Exposure
GameStop Corp. (GameStop) announced plans to shutter over 470 U.S. stores by January 31, 2026, the end of its 2025 fiscal year, as part of ongoing portfolio optimization efforts. KBRA Credit Profile (KCP), a division of KBRA Analytics, reviewed its commercial mortgage-backed securities (CMBS) coverage universe and identified 389 properties securing 358loans—$34.6 billion by allocated loan amount (ALA)—across 365 transactions with exposure to GameStop as a tenant.
40+
analysts contributing monthly loan-level
surveillance commentary and analysis
15
years of average credit experience across
leadership team
1300+
CMBS and CRE CLO transactions, spanning
the private-label market and beyond
100s
of recurring and topical CMBS
research publications
Solving CMBS & CRE CLO Challenges with Smart, Connected Analytics
KCP is KBRA Analytics’ monthly surveillance and analytics platform, built specifically for the needs of CMBS market participants, addressing core issues in the commercial real estate debt markets.
Lack of Transparency in Valuation Assumptions and Loss Forecasts
KCP relies on multiple valuation approaches to derive six proprietary loss scenarios with default and resolution timing estimates.
We offer complete valuation transparency, including detailed income approach assumptions and sales comparison insights so users can interpret our conclusions.
Our Loss Lookback reports compare actual liquidation outcomes to KCP’s prior loss estimates to support investor confidence in the reliability of our forecasting.
Disconnected Data Sources That Slow Down Analysis
KCP delivers clean, structured data that reconciles investor reporting discrepancies, ensuring accuracy and consistency across your entire data workflow.
By capturing subordinate financing and non-trust debt, our platform facilitates comprehensive capital stack engineering for complex deal structures.
The platform consolidates performance metrics and analytical outputs into intuitive dashboards and exportable files, eliminating the need to search across multiple sources.
Difficulty Benchmarking Across CMBS Cohorts
In-app tools allow users to apply detailed analytical filters and compare CMBS cohorts across a wide range of criteria.
Advanced search functionality, enhanced by integrated KCP Exposure Groups, pinpoints CMBS exposure to significant credit events and properties linked to tenant risks, sector-level distress, economic disruption, and natural disasters.
Performance metrics and KCP analysis can be evaluated across deals and user-defined portfolios.
Complicated Integration with Third-Party Platforms and Internal Models
Fully integrated with top data providers and cash flow engines, including Bloomberg, INTEXcalc, and Trepp, for efficient analysis and dependable output.
Users can select from multiple KCP scenarios to improve bond forecasting precision and gain deeper insights into future performance.
Analytical output is also available via bulk download or data feed, enabling seamless integration with internal models and workflows.
Key Features
KBRA has been recognized as a leading credit rating agency across media organizations.
Custom Portfolio
Build and manage custom Deal- or CUSIP-level portfolios tailored to your book, track performance, and set alerts for key changes.
Alerts
Set alerts for loan, collateral, or KCP forecast changes. Pick how and when you’re notified—real-time or batch—for timely or periodic updates.
Advanced Search
Mapping tool with filters to find loans and properties, assess tenant and sponsor risk, compare CMBS cohorts, and analyze deal and portfolio performance.
Exposure Groups
Curated loan and property lists flag risks by tenant, sector, region and disaster, tracking non-top-five tenants and shadow anchors beyond CREFC IRP.
KCAT (KBRA Comparative Analytic Tool)
Compare analytical metrics across deals and portfolios using consistent scoring and benchmarks to evaluate relative value, flag outliers, and identify trends.
Recurring & Topical Research
Analyst insights on CMBS risk from tenants, sponsors, disasters, and market trends—built to inform strategy and track evolving exposure.
Third-Party Integrations
Access KCP loss vectors, property values, and commentary seamlessly on Trepp, Intex, and Bloomberg.
ESG Supplemental Reports
Environmental and Social data mapped to CMBS addresses, available via Excel or data feed, for internal scoring models and regulatory reporting.
Who KCP Serves & How
KCP is used by a wide range of CRE professionals to solve common surveillance and credit analysis workflow challenges.
Build & Benchmark Portfolios
Asset Managers and Buy-Side Credit Teams use KCP to construct risk-adjusted portfolios, benchmark ESG performance, and streamline compliance workflows using exportable portfolios, alerts, and KCAT.
Spot & Monitor Credit Risk
Analysts and Portfolio Managers track distressed credits and risk signals with K-LOCs, loss projections, and advanced search capabilities. KCP Credit Alerts are delivered within days of updated transaction reporting.
Support Trade & Market Analysis
Sell-Side Analysts use KCP’s valuation alerts, peer comparisons, and commentary to validate trade ideas and market views in fast-moving environments.
Evaluate Credit Opportunities
Traders rely on KCP’s loan-level modeling, deal structure clarity, and loss scenarios to evaluate downside risk and forecast bond cash flows.
Specialized Solutions for CRE CLO
KCP equips CRE CLO Investors with tools to streamline surveillance, including pre-mapped pari passu loans, insight into transitional asset performance, and active tracking of loan acquisitions and dispositions. Issuer profile and analysis reports offer timely intelligence on the financial health of CRE CLO issuer-managers, their liquidity positions, acquisition pipelines, and loan performance.
Our Team
Steve Kuritz
Senior Managing DirectorHead of Real Estate - KBRA Analytics+1 (215) 882-5866[email protected]Contact Form
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Let us show you how KCP can equip your team with trusted credit intelligence, streamlined data tools, and analyst support built to elevate performance and simplify decision making.