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KBRA Withdraws Rating on 45 Classes from 25 Transactions

4 Sep 2024   |   New York

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KBRA withdraws its ratings from the classes shown below following the reduction of their respective principal or notional balances to zero. For each class, the related July 2024 remittance report with respect to Classes A-2, A-M, B, X1, X2-A and XAM of the FREMF 2017-K727 transaction and the August 2024 remittance reports with respect to the remainder of the classes did not reflect any accumulated interest shortfalls or principal writedowns. KBRA’s ratings are updated as follows:

  • BBCMS Mortgage Trust 2021-C10, Class A-1, from 'AAA (sf)' to 'WR (sf)'
  • CG-CCRE 2014-FL2, Class A, from 'AAA (sf)' to 'WR (sf)'
  • CG-CCRE 2014-FL2, Class B, from 'BBB- (sf)' to 'WR (sf)'
  • CGCMT 2015-GC29, Class A-AB, from 'AAA (sf)' to 'WR (sf)'
  • COMM 2014-CCRE17, Class A-5, from 'AAA (sf)' to 'WR (sf)'
  • COMM 2014-CCRE17, Class A-M, from 'AAA (sf)' to 'WR (sf)'
  • COMM 2014-CCRE19, Class B, from 'AA+ (sf)' to 'WR (sf)'
  • COMM 2014-CCRE19, Class C, from 'A- (sf)' to 'WR (sf)'
  • COMM 2014-CCRE19, Class PEZ, from 'A- (sf)' to 'WR (sf)'
  • COMM 2014-CCRE19, Class X-B, from 'AAA (sf)' to 'WR (sf)'
  • COMM 2014-CCRE20, Class A-3, from 'AAA (sf)' to 'WR (sf)'
  • COMM 2014-UBS6, Class A-SB, from 'AAA (sf)' to 'WR (sf)'
  • CoreVest American Finance 2019-1, Class C, from 'AA+ (sf)' to 'WR (sf)'
  • CSAIL 2017-CX9, Class A-3, from 'AAA (sf)' to 'WR (sf)'
  • FREMF 2014-K39, Class C, from 'AA- (sf)' to 'WR (sf)'
  • FREMF 2017-K727, Class A-2, from 'AAA (sf)' to 'WR (sf)'
  • FREMF 2017-K727, Class A-M, from 'AAA (sf)' to 'WR (sf)'
  • FREMF 2017-K727, Class B, from 'AA- (sf)' to 'WR (sf)'
  • FREMF 2017-K727, Class C, from 'A- (sf)' to 'WR (sf)'
  • FREMF 2017-K727, Class X1, from 'AAA (sf)' to 'WR (sf)'
  • FREMF 2017-K727, Class X2-A, from 'AAA (sf)' to 'WR (sf)'
  • FREMF 2017-K727, Class XAM, from 'AAA (sf)' to 'WR (sf)'
  • FREMF 2017-K728, Class A-2, from 'AAA (sf)' to 'WR (sf)'
  • FREMF 2017-K728, Class A-M, from 'AAA (sf)' to 'WR (sf)'
  • FREMF 2017-K728, Class X1, from 'AAA (sf)' to 'WR (sf)'
  • FREMF 2017-K728, Class X2-A, from 'AAA (sf)' to 'WR (sf)'
  • FREMF 2017-K728, Class XAM from 'AAA (sf)' to 'WR (sf)'
  • GSMS 2014-GC26, Class A-4, from 'AAA (sf)' to 'WR (sf)'
  • GSMS 2014-GC26, Class A-AB, from 'AAA (sf)' to 'WR (sf)'
  • GSMS 2019-GC39, Class A-2, from 'AAA (sf)' to 'WR (sf)'
  • JPMBB 2014-C26, Class A-SB, from 'AAA (sf)' to 'WR (sf)'
  • JPMCC 2015-FRR2, Class A-K39, from 'BBB+ (sf)' to 'WR (sf)'
  • JPMCC 2015-FRR2, Class B-K39, from 'BB- (sf)' to 'WR (sf)'
  • MSBAM 2014-C18, Class A-4, from 'AAA (sf)' to 'WR (sf)'
  • MSBAM 2014-C19, Class A-3, from 'AAA (sf)' to 'WR (sf)'
  • MSC 2021-L6, Class A-1, from 'AAA (sf)' to 'WR (sf)'
  • SGCMS 2016-C5, Class A-2, from 'AAA (sf)' to 'WR (sf)'
  • UBS 2019-C17, Class A-2, from 'AAA (sf)' to 'WR (sf)'
  • WFRBS 2014-C19, Class D, from 'BBB- (sf)' to 'WR (sf)'
  • WFRBS 2014-C19, Class E, from 'CCC (sf)' to 'WR (sf)'
  • WFRBS 2014-C20, Class A-S, from 'AAA (sf)' to 'WR (sf)'
  • WFRBS 2014-C20, Class A-SFL, from 'AAA (sf)' to 'WR (sf)'
  • WFRBS 2014-C20, Class A-SFX, from 'AAA (sf)' to 'WR (sf)'
  • WFRBS 2014-C22, Class X-Y, from 'AAA (sf)' to 'WR (sf)'
  • WFRBS 2014-C24, Class A-4, from 'AAA (sf)' to 'WR (sf)'

Disclosures

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) is a full-service credit rating agency 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 by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider.

Doc ID: 1005782

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