KBRA Affirms All Ratings for HCCLT 2019-1
14 Nov 2024 | New York
KBRA affirms all of its outstanding ratings for Harvest Commercial Capital Loan Trust 2019-1 (HCCLT 2019-1), a $100.3 million small balance commercial securitization collateralized by 93 loans secured by 95 properties. The affirmations follow a surveillance review of the transaction which has 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 2024 remittance period, KBRA identified three K-LOCs (4.6%), including delinquent loans. The transaction’s WA KLTV is 93.6%, compared to 91.5% 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.
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