KBRA Affirms All Ratings for FREMF 2014-K39
23 May 2024 | New York
KBRA affirms all of its outstanding ratings for FREMF 2014-K39, a $939.5 million CMBS multi-borrower transaction. All loans were originated in conjunction with the Federal Home Loan Mortgage Corporation's (Freddie Mac) K-Deal program. The affirmations follow a surveillance review of the transaction, which has exhibited an improvement in pool performance since KBRA's last ratings change in August 2022. However, the magnitude of the changes does not warrant ratings adjustments at this time.
As of the April 2024 remittance period, there are no delinquent or specially serviced loans, and no loans have been identified as K-LOCs.
The transaction’s WA KLTV is 71.5%, compared to 80.1% at KBRA’s last ratings change and 104.9% at securitization. The WA KDSC is 2.18x, compared to 2.02x at KBRA’s last ratings change and 1.59x at securitization.
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