Press Release|CMBS, ABS
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KBRA Affirms All Ratings for HCCLT 2020-1

14 Nov 2025   |   New York

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KBRA affirms all of its outstanding ratings for Harvest Commercial Capital Loan Trust 2020-1 (HCCLT 2020-1), a $66.1 million small balance commercial securitization collateralized by 50 loans secured by 50 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 2025 remittance period, KBRA identified four K-LOCs (21.7% of the pool balance), all of which are 90+ days delinquent. The transaction's WA KLTV is 107.4%, compared to 106.8% at last review 112.1% at issuance. However, KLTV is derived from the property values at issuance since limited information is provided to reassess values. Borrowers do not report updated financial information and the servicer is generally not required to update property values.

To access ratings and relevant documents, click here.

Click here to view the report.

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Methodologies

Disclosures

Further information on key credit considerations, sensitivity analyses that consider what factors can affect these credit ratings and how they could lead to an upgrade or a downgrade, and ESG factors (where they are a key driver behind the change to the credit rating or rating outlook) can be found in the full rating report referenced above.

A description of all substantially material sources that were used to prepare the credit rating and information on the methodology(ies) (inclusive of any material models and sensitivity analyses of the relevant key rating assumptions, as applicable) used in determining the credit rating is available in the Information Disclosure Form(s) located here.

Information on the meaning of each rating category can be located here.

Further disclosures relating to this rating action are available in the Information Disclosure Form(s) referenced above. Additional information regarding KBRA policies, methodologies, rating scales and disclosures are available at www.kbra.com.

About KBRA

Kroll Bond Rating Agency, LLC (KBRA), one of the major credit rating agencies (CRA), is a full-service CRA registered with the U.S. Securities and Exchange Commission as an NRSRO. Kroll Bond Rating Agency Europe Limited is registered as a CRA with the European Securities and Markets Authority. Kroll Bond Rating Agency UK Limited is registered as a CRA with the UK Financial Conduct Authority. In addition, KBRA is designated as a Designated Rating Organization (DRO) by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized as a Qualified Rating Agency by Taiwan’s Financial Supervisory Commission and is recognized by the National Association of Insurance Commissioners as a Credit Rating Provider (CRP) in the U.S.

Doc ID: 1012296