Press Release|CMBS
KBRA Affirms All Ratings for BBCMS 2023-C21
4 Oct 2024 | New York
KBRA affirms all of its outstanding ratings for BBCMS 2023-C21, a $679.1 million CMBS conduit transaction. The affirmations follow a surveillance review of the transaction, which has exhibited overall stable pool performance since securitization.
As of the September 2024 remittance period, none of the loans are specially serviced or delinquent. However, one loan (2.1% of the pool) has been identified as a K-LOC, which is not within the top 10 nor does it have an estimated loss.
The transaction's WA KLTV is 87.1%, unchanged from securitization. The WA KDSC is 1.74x, unchanged from securitization.
To access rating and relevant documents, click here.
Click here to view the report.
Related Publication
Methodologies
- CMBS: Methodology for Rating Interest-Only Certificates in CMBS Transactions
- CMBS: North American CMBS Multi-Borrower Rating Methodology
- Structured Finance: Global Structured Finance Counterparty Methodology
- CMBS: North American CMBS Property Evaluation Methodology
- CMBS: North American CMBS Single Borrower & Large Loan Rating Methodology
- ESG Global Rating Methodology