KBRA Affirms All Ratings for WFCM 2017-C42
14 Nov 2024 | New York
KBRA affirms all of its outstanding ratings for WFCM 2017-C42, a $706.1 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 increase does not warrant rating changes at this time.
As of the October 2024 remittance report, there are two specially serviced loans (9.7% of the pool). KBRA identified six K-LOCs (24.3%), including the specially serviced assets. These include three Top 10 loans:
- 16 Court Street (2nd largest, 9.4% of pool balance, 13.6% estimated loss severity)
- One Century Place (4th largest, 6.2%)
- Lennar Corporate Center (9th largest, 3.9%, 22.8%)
One other K-LOC has an estimated loss:
- Collins MHC & Underwood Estates (0.3%, 65.5%)
Excluding the K-LOCs with estimated losses, the transaction's WA KLTV is 102.4%, compared to 102.0% at last review and 101.4% at securitization. The KDSC is 1.82x, unchanged since last review and compared to 1.85x at issuance.
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Click here to view the report.