KBRA Withdraws One Rating and Affirms All Other Outstanding Ratings for HCCLT 2019-1
13 Nov 2026 | New York
KBRA withdraws its AA+ (sf) rating on Class M-1 following the reduction of the principal balance of the rated security to zero as reflected in the July 2026 remittance report and affirms all other outstanding ratings for Harvest Commercial Capital Loan Trust 2019-1 (HCCLT 2019-1), a $70.6 million small balance commercial securitization collateralized by 72 loans secured by 72 properties. The affirmations follow a surveillance review of the transaction which has demonstrated stable credit metrics since last review. In addition, the transaction has benefited from pool deleveraging due to loan amortization and pay-offs.
As of the October 2026 remittance period, there are two loans (6.2% of the pool balance) in foreclosure and two loans that are 90+ days delinquent (5.9%). KBRA identified the four delinquent loans as K-LOCs (12.1%). The transaction’s WA KLTV is 95.2%, compared to 94.1% at last review, and 104.3% at issuance. However, the values to derive KLTV are from issuance as there is limited information provided to reassess values. Borrowers do not report updated financial performance information of the related assets and the servicer is generally not required to update property values.
Details concerning the withdrawn rating is as follows:
- Class M-1 to WR (sf) from AA+ (sf)
To access ratings and relevant documents, click here.
Click here to view the report.