KBRA Withdraws Five Ratings on CGCMT 2014-GC23
15 Jul 2024 | New York
KBRA withdraws its AAA (sf) rating on classes A-4, A-S, and X-A of the CGCMT 2014-GC23 transaction following the reduction of their respective principal or notional balances to zero according to the July 2024 remittance report.
Additionally, KBRA withdraws its AAA (sf) rating on the interest-only (IO) X-B class and its BB- (sf) rating on the IO X-C class in accordance with KBRA’s Methodology for Rating Interest-Only Certificates as only seven loans remain in the underlying mortgage pool as of the end of the July 2024 remittance period. There were no principal writedowns or interest shortfalls reported on the withdrawn rated securities during their life.
The details of the withdrawn classes are as follows:
- Class A-4 to WR from AAA (sf)
- Class A-S to WR from AAA (sf)
- Class X-A to WR from AAA (sf)
- Class X-B to WR from AAA (sf)
- Class X-C to WR from BB- (sf)
To access rating and relevant documents, click here.