KBRA Affirms All Ratings for FREMF 2019-K95
22 Mar 2024 | New York
KBRA affirms all of its outstanding ratings for FREMF 2019-K95, a $1.3 billion CMBS multi-borrower transaction. All loans were originated in conjunction with the Federal Home Loan Mortgage Corporation's (Freddie Mac) K-Deal program. The affirmations follow a surveillance review of the transaction, which has exhibited an improvement in pool performance since securitization. However, the magnitude of the changes does not warrant ratings adjustments at this time.
As of the February 2024 remittance period, there are no delinquent or specially serviced loans; however, KBRA identified two K-LOCs (2.4% of the pool balance), neither of which are within the top 10 nor have an estimated loss.
The transaction's WA KLTV is 107.8%, compared to 110.4% at last review and 118.2% at securitization. The KDSC is 1.45x,compared to 1.39x at last review and 1.30x at securitization.
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