KBRA Withdraws Rating on 14 Interest-Only Classes from 6 Transactions

KBRA withdraws its ratings on interest-only (IO) classes from six transactions in accordance with KBRA’s Methodology for Rating Interest-Only Certificates. As of the June 2024 remittance reports each of the transactions had 10 or fewer loans remaining. In addition, in two of the transactions, WFCM 2014-LC16 and FREMF 2017-K726, each of the respective rated principal & interest classes referenced by the rated IO classes were downgraded to below investment grade or paid in full, respectively. There were no interest shortfalls reported on the withdrawn rated securities during their life.

The transactions and details of the withdrawn classes are as follows:

COMM 2014-CCRE17

COMM 2014-CCRE17, Class X-A, from AAA (sf) to WR (sf)

COMM 2014-CCRE17, Class X-B, from AAA (sf) to WR (sf)

COMM 2014-CCRE17, Class X-C, from BB (sf) to WR (sf)

COMM 2014-UBS3

COMM 2014-UBS3, Class X-A, from AAA (sf) to WR (sf)

COMM 2014-UBS3, Class X-B, from AAA (sf) to WR (sf)

COMM 2014-UBS3, Class X-C, from BB (sf) to WR (sf)

GSMS 2014-GC22

GSMS 2014-GC22, Class X-A, from AAA (sf) to WR (sf)

GSMS 2014-GC22, Class X-B, from AAA (sf) to WR (sf)

GSMS 2014-GC22, Class X-C, from BB+ (sf) to WR (sf)

WFCM 2014-LC16 

WFCM 2014-LC16, Class X-A, from AAA (sf) to WR (sf)

WFCM 2014-LC16, Class X-B, from AAA (sf) to WR (sf)

WFRBS 2014-C20

WFRBS 2014-C20, Class X-A, from AAA (sf) to WR (sf)

WFRBS 2014-C20, Class X-B, from AAA (sf) to WR (sf)

FREMF 2017-K726

FREMF 2017-K726, Class X2-B, from AAA (sf) to WR (sf)

Methodologies