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KBRA Affirms All Ratings for JPMBB 2015-C30

6 Jun 2025   |   New York

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KBRA affirms all of its outstanding ratings for JPMBB 2015-C30, a $795.3 million CMBS conduit transaction. The affirmations follow a surveillance review of the transaction, which has exhibited a worsening in pool performance since KBRA's last ratings change in June 2024 including an increase in KBRA’s estimated losses from seven K-LOCs (32.2% of the pool balance). However, the magnitude of the changes did not warrant ratings adjustments at this time.

As of the May 2025 remittance period, two assets (9.1%) are specially serviced, one of which (7.1%) is in foreclosure. KBRA identified 16 K-LOCs (53.9%), including the specially serviced loans, of which seven (32.2%) have estimated losses. The K-LOCs are depicted in the table below.

K-LOCs Loss Given Default (000s) Loss Severity 1 One Shell Square OF 74,509 9.4% N C N Occupancy 06/27/2024 $24,018 32.2% 3 Sunbelt Portfolio OF 56,528 7.1% Y FCL N Specially Serviced 03/03/2022 $21,809 38.6% 6 Castleton Park OF 44,791 5.6% N C N Occupancy 06/02/2021 $13,624 30.4% 7 Bethesda Office Center OF 44,605 5.6% N C N Maturity 07/15/2024 $5,147 11.5% 5 Parker Plaza OF 44,501 5.6% N C N Maturity 10/14/2024 - - 9 College Park Office OF 40,070 5.0% N C N Maturity 08/01/2024 - - 13 215 West 125th Street OF 33,000 4.1% N C N Maturity 03/11/2025 - - 18 West Hartford Office Portfolio OF 21,502 2.7% N C N Occupancy 05/10/2023 - - 24 River View Shopping Center RT 16,219 2.0% Y C N Specially Serviced 10/08/2020 $1,204 7.4% 26 111 South Jackson OF 11,060 1.4% N C N Occupancy 08/30/2024 - - 30 Arapahoe Village RT 10,911 1.4% N C N Maturity 07/07/2023 - - 32 770 S Post Oak OF 10,829 1.4% N C N DSCR 10/14/2019 $7,719 71.3% 36 The Forum Office OF 9,000 1.1% N C N DSCR 04/10/2020 $2,200 24.4% 50 Hampton Inn Shreveport LO 4,474 0.6% N PM N Matured- Performing 05/21/2025 - - 60 Antioch Crossing RT 3,531 0.4% N C N DSCR 09/10/2020 - - Total K-LOCs $425,530 53.5% $75,721 1. K-LOC Date is the date when the most recent K-LOC was initially determined. 2. Loss Given Default assumes a 100% probability of default (PD). KBRA may determine a lower PD when estimating losses to a transaction. SS Prosp. ID Loan Name Prop Type Current In- Trust Balance (000s) % of Deal Balance Loan Status Mod (Y/N) Primary K- LOC Reason K-LOC Date 1 KBRA Estimated 2
Source: KBRA

Excluding the K-LOCs with estimated losses, the transaction’s WA KLTV is 88.2%, compared to 91.4% at KBRA's last ratings change and 102.3% at securitization. The KDSC is 1.79x, compared to 1.69x at KBRA's last ratings change and 1.75x at securitization.

To access ratings and relevant documents, click here.

Click here to view the report.

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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: 1009793

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