-- Interest-only class A-X at 'A-sf', Outlook Stable;
Key Rating Drivers
The affirmations reflect stable collateral performance since Fitch's last rating action. Both property occupancy and reported net cash flow (NCF) have remained in line with expectations at issuance.
The ratings are expected to remain stable. Upgrades are expected to be limited due to the subordinate nature of the trust.
The certificates represent beneficial ownership interest in the trust, the primary assets of which are a fixed-rate junior mortgage note with a principal balance of
The trust is subordinate to a self-liquidating
The transaction's collateral is a 15-story, 1.18 million square foot portion of
Additional information is available at 'www.fitchratings.com'.
-- 'Global Structured Finance Rating Criteria' (
-- 'Criteria for Analyzing Large Loans in U.S. Commercial Mortgage Transactions' (
Global Structured Finance Rating Criteria
Criteria for Analyzing Large Loans in U.S. Commercial Mortgage Transactions
Source: Fitch Ratings
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