KBRA Affirms All Ratings for FREMF 2023-K160
25 Oct 2024 | New York
KBRA affirms all of its outstanding ratings for FREMF 2023-K160, a $1.3 billion CMBS multi- borrower transaction. All loans were originated in conjunction with the Federal Home Loan Mortgage Corporation ’s (Freddie Mac) K-Deal program. The affirmations follow a surveillance review of the transaction, which has exhibited stable pool performance since securitization.
As of the September 2024 remittance period, there are no delinquent or specially serviced loans. However, KBRA identified one K-LOC (2.8% of the pool balance), which has an estimated loss.
Excluding the K-LOC with an estimated loss, the transaction’s WA KLTV is 111.7% compared to 105.3% at securitization.
The KDSC is 1.30x compared to 1.33x at securitization.
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