KBRA Affirms All Ratings for JPMDB 2018-C8
7 Jun 2024 | New York
KBRA affirms all of its outstanding ratings for JPMDB 2018-C8, a $539.2 million CMBS conduit transaction. The affirmations follow a surveillance review of the transaction, which has exhibited overall stable pool performance since KBRA's last ratings change in June 2023.
As of the May 2024 remittance period, there is one specially serviced asset (4.7% of the pool balance). KBRA identified two K-LOCs (7.6%), including the specially serviced asset. These include:
One top 10 loan (4.7%):
- Constitution Plaza (8th largest, 4.7% of the pool balance, 8.9% estimated loss severity)
The remaining K-LOC represents 2.9% of the pool balance.
Excluding the K-LOC with an estimated loss, the transaction's WA KLTV is 97.8%, compared to 101.2% at KBRA's last ratings change and 98.4% at securitization. The KDSC is 1.66x, compared to 1.61x at KBRA's last ratings change and 1.84x at securitization.
To access rating and relevant documents, click here.
Click here to view the report.