KBRA Withdraws All Outstanding Ratings on RCMT 2015-2
9 Oct 2024 | New York
KBRA withdraws its outstanding ratings for all classes of RCMT 2015-2 transaction, a small balance commercial securitization, following the optional termination of the rated securities pursuant to the terms of transaction as reflected in the transaction’s September 2024 remittance report. With the exercise of the optional termination KBRA considers the securities as paid in full.
At the time of the exercise of the Optional Termination right, the Class A through Class D certificates were no longer outstanding. The optional termination permits the sole certificateholder to terminate the issuing entity with an exchange of the outstanding certificates for the mortgage loans and REO properties remaining in the issuer; provided they compensate the certificate administrator and servicer in accordance with the relevant sections of the transaction’s Pooling and Servicing Agreement. Following such termination, no further amount shall be payable on the Certificates, regardless of whether any recoveries are received on the REO Properties.
The sole certificateholder is someone holding 100% of the then outstanding Certificates (including Certificates with Certificate Balances that have been actually or notionally reduced by any Realized Losses or Appraisal Reduction Amounts, but excluding the Class R and Class LR Certificates) or an assignment of the Voting Rights thereof; provided, that the Certificate Balances of the Class A, Class B, Class C and Class D certificates have been reduced to zero.
To access rating and relevant documents, click here.