Press Release|CMBS, ABS
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KBRA Withdraws One Rating and Affirms All Other Ratings for HCCLT 2019-1

14 Nov 2025   |   New York

Contacts

KBRA withdraws one rating and affirms the remaining outstanding ratings for Harvest Commercial Capital Loan Trust 2019-1 (HCCLT 2019-1), an $81.7 million small balance commercial securitization collateralized by 82 loans secured by 82 properties. The affirmations follow a surveillance review of the transaction 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 2025 remittance period, KBRA identified three K-LOCs (9.7% of the pool balance), including one delinquent loan, one loan in bankruptcy and one loan in foreclosure. The transaction’s WA KLTV is 94.1%, compared to 93.6% 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.

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: 1012293