KBRA Affirms All Ratings for ACM 2016-1
12 Apr 2024 | New York
KBRA affirms ratings for all classes of ACM 2016-1, a $58.6 million small balance commercial transaction. The affirmations follow a surveillance review of the transaction which has benefited from increases in credit enhancement levels due to deleveraging from amortization and loan payoffs. Since securitization, 57 loans have paid off (68.6% of the original pool balance), including seven loans (7.2%) since KBRA's last rating action in April 2023. Rating changes are not warranted at this time due in part to a lack of updated financial reporting.
As of the March 2024 remittance period, there are no delinquent or specially serviced loans. KBRA identified one K-LOC, 100 West 72nd St Assoc LLC (3rd largest, 6.8%), which does not have an estimated loss.
The transaction’s WA KLTV is 55.3% compared to 57.6% at last review and 74.6% at securitization. The KDSC is 2.02x compared to 2.08x at last review and 1.82x at securitization.
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