KBRA Affirms All Ratings for BBCMS 2022-C14
31 Jan 2025 | New York
KBRA affirms all of its outstanding ratings for BBCMS 2022-C14, a $906.1 million CMBS conduit transaction. The affirmations follow a surveillance review of the transaction, which has exhibited overall stable pool performance since securitization.
As of the January 2025 remittance period, there is one loan (5.6% of the pool balance) that is 90+ days delinquent. KBRA identified six K-LOCs (18.7%), none of which has an estimated loss. The K-LOCs include:
Two top 10 loans (13.4%):
- Coleman Highline Phase IV (largest, 7.7%)
- Chicago Crossed Portfolio (4th largest, 5.6%)
The remaining four K-LOCs represent 5.3% of the pool balance.
The transaction’s WA KLTV is 91.9%, compared to 102.0% at last review and 99.1% at securitization. The KDSC is 2.51x, in line with last review and compared to 2.35x at securitization.
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