KBRA Upgrades All Five Ratings for ACM 2016-1
9 Apr 2025 | New York
KBRA upgrades the ratings of all five remaining classes of certificates for ACM 2016-1, a $31.5million small balance commercial transaction. The rating actions follow a surveillance review of the transaction, which has benefited from increases in credit enhancement levels due to deleveraging from amortization and loan payoffs. Since securitization, 67 loans have paid off (81.5% of the original pool balance). In addition, the refinance profile of a majority of the remaining loans is favorable.
As of the March 2025 remittance period, there are no delinquent or specially serviced loans. KBRA has not identified any K-LOCs.
The transaction’s WA KLTV is 47.2% compared to 55.3% at last review and 74.6% at securitization. The KDSC is 2.05x compared to 2.02x at last review and 1.82x at securitization.
Details concerning the class with a ratings change are as follows:
- Class B to AAA (sf) from AA+ (sf)
- Class C to AA+ (sf) from A+ (sf)
- Class D to A- (sf) from BBB- (sf)
- Class E to BB+ (sf) from BB (sf)
- Class F to B (sf) from B- (sf)
To access ratings and relevant documents, click here.
Click here to view the report.