KBRA Places the Ratings of 10 Classes of JPMBB 2014-C24 on Watch Downgrade

KBRA places the ratings of 10 classes of JPMBB 2014-C24, a CMBS conduit transaction, on Watch Downgrade.

The Watch placements are based on an increase in the concentration of specially serviced assets and an increase in interest shortfalls since our last surveillance review. Currently interest shortfalls are impacting up to and including the Class B certificates. KBRA also considered the likelihood of interest shortfalls continuing and reaching higher in the capital structure during the resolution of the specially serviced assets and the eight assets (71.9%) that remain in the pool past their maturity date. KBRA will continue to monitor the transaction and the underlying loans’ performance and will seek to resolve or update the Watch Downgrade status within 90 days.

As of the November 2023 remittance period, there are seven specially serviced assets (68.1% of the pool balance), of which two (27.8%) are REO, two (3.4%) are in foreclosure and three (36.9%) are matured non-performing.

Details concerning the classes with ratings placed on Watch are as follows:

To access ratings and relevant documents, click here.

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