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KBRA Affirms All Ratings for CGCMT 2018-C6

31 Oct 2025   |   New York

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KBRA affirms all of its outstanding ratings for CGCMT 2018-C6, a $682.1 million CMBS conduit transaction. The affirmations follow a surveillance review of the transaction, which has exhibited a slight worsening in pool performance since securitization. However, the magnitude of the change does not warrant rating adjustments at this time.

As of the October 2025 remittance period, there are two specially serviced loans (8.6% of the pool balance), one of which is 30 days delinquent (4.1%). KBRA identified eight K-LOCs (30.0%), including the specially serviced assets, two of which have estimated losses (8.2%). The K-LOCs are depicted in the table below.

Loss Given Default (000s) Loss Severity 1 DUMBO Heights Portfolio OF $63,752 9.4% N C Y Modification 02/01/2023 - - 3 Cambridge Corporate Center OF $42,415 6.2% N C N Occupancy 07/10/2023 $5,860 13.8% 7 Shelbourne Global Portfolio I MU $30,000 4.4% Y C N Specially Serviced 01/04/2023 - - 9 Holiday Inn FiDi LO $27,025 4.0% Y 30+ N Specially Serviced 06/30/2020 - - 25 Victory on 30th MF $13,500 2.0% N C N DSCR 04/08/2025 - - 22 Riverside Office Center OF $13,322 2.0% N C N DSCR 05/04/2022 $1,647 12.4% 27 TownePlace Suites Houston - Galleria Area LO $10,987 1.6% N C N DSCR 04/06/2020 - - 33 Fairway Plaza OF $3,343 0.5% N C N Recent Delinquency 07/31/2025 - - Total K-LOCs $204,344 30.0% $7,508 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. K-LOC Date 1 KBRA Estimated 2 K-LOCs Prosp. ID Loan Name Prop Type Current In- Trust Balance (000s) % of Deal Balance SS Loan Status Mod (Y/N) Primary K-LOC Reason
Source: KBRA

Excluding the K-LOCs with estimated losses, the transaction’s WA KLTV is 97.7%, compared to 98.4% at last review and 99.7% at issuance. The KDSC is 1.66x, compared to 1.68x at last review, and 1.74x at issuance.

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.

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