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

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

The Watch placements are based on an increase in interest shortfalls and in the concentration of specially serviced assets and K-LOCs. Currently, interest shortfalls are affecting 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.

As of the May 2025 remittance period, there are eight specially serviced assets (73.9% of the pool balance), of which two (28.6%) are REO, four (22.5%) are in foreclosure and one (3.8%) is matured non-performing. KBRA identified nine K-LOCs, 95.9% of the transaction.

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 with ratings placed on Watch are as follows:

To access ratings and relevant documents, click here.

Related Publication

Methodologies