KBRA Affirms All Outstanding Ratings for HCCLT 2020-1
13 Nov 2026 | New York
KBRA affirms all of its outstanding ratings for Harvest Commercial Capital Loan Trust 2020-1 (HCCLT 2020-1), a $57.3 million small balance commercial securitization collateralized by 44 loans secured by 42 properties. The affirmations follow a surveillance review of the transaction and reflect the benefit of pool deleveraging through loan amortization and payoffs, which has provided additional credit support despite deterioration in loan performance since KBRA's last review.
As of the October 2026 remittance period, KBRA identified 13 K-LOCs (54.6% of the pool balance), reflecting an increase in delinquent loans, foreclosure proceedings, and bankruptcy activity since the last review. However, six of the K-LOCs (19.5%) are less than 30 days delinquent.
The transaction's WA KLTV is 108.0%, compared to 107.4% at the last review and 112.1% at issuance. The KLTV calculations continue to rely on property values from issuance, as limited updated property-level information is available to reassess collateral values. Borrowers generally do not provide updated financial performance information for the underlying properties, and the servicer is generally not required to obtain updated property valuations.
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