Press Release|CMBS
View PDF

KBRA Maintains Watch Downgrade Status for Three Ratings of WFRBS 2014-C22

24 Apr 2026   |   New York

Contacts

KBRA is maintaining its Watch Downgrade status for three ratings of WFRBS 2014-C22, a CMBS conduit transaction. We initially placed the ratings on Watch Downgrade on January 26, 2026, due to an increase in interest shortfalls since our last surveillance review in August 2025.

Currently interest shortfalls are impacting up to and including the Class B certificates. KBRA also considered recent news reports of a buyer entering into a sales agreement to purchase the collateral securing the transaction's largest loan, Bank of America Plaza ($150 million, 37.0% of the pool balance) for $210.0 million.

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.

Details concerning the classes that are on Watch Downgrade are as follows:

  • Class A-S to AAA (sf) DN from AAA (sf)
  • Class B to A (sf) DN from A (sf)
  • Class C to BB (sf) DN from BB (sf)

To access ratings and relevant documents, click here.

Related Publications

Methodologies

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), 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.

Doc ID: 1014506