KBRA Affirms All Ratings for FREMF 2014-K41
21 Jun 2024 | New York
KBRA affirms all of its outstanding ratings for FREMF 2014-K41, a $1.2 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 an improvement in credit metrics since KBRA’s last ratings change in August 2022 and securitization. However, the magnitude of the changes does not warrant ratings adjustments at this time.
As of the May 2024 remittance period, there are no delinquent or specially serviced loans. However, KBRA identified one K-LOC, Infinity Apartments (3rd largest, 2.7%).
The transaction’s WA KLTV is 76.5%, compared to 84.0% at KBRA's last ratings change and 112.8% at securitization. The WA KDSC is 2.03x, compared to 1.93x at KBRA's last ratings change and 1.49x at securitization.
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