KBRA Affirms All Ratings for HCCLT 2020-1
14 Nov 2024 | New York
KBRA affirms all of its outstanding ratings for Harvest Commercial Capital Loan Trust 2020-1 (HCCLT 2020-1), an $79.0 million small balance commercial securitization collateralized by 59 loans secured by 59 properties. The affirmations follow a surveillance review of the transaction, which has demonstrated stable credit metrics since securitization. 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 two K-LOCs (2.5%), including the delinquent loans. The transaction's WA KLTV is 106.8%, compared to 107.4% at last review 112.1% at issuance. However, the values to derive KLTV are from issuance since there is limited information provided to reassess values. Borrowers do not report updated financial performance information and the servicer is generally not required to update property values.
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