--Commercial primary servicer affirmed at 'CPS2-';
--Commercial special servicer affirmed at 'CSS3+' and withdrawn;
--Commercial loan level special servicer rating assigned at 'CLLSS3+'.
The assignment of a loan level special servicer rating and simultaneous affirmation and withdrawal of the conduit special servicer rating reflects Voya's special servicing infrastructure which, while appropriate for its current portfolio, is focused on special servicing individual loans rather than securitized transactions. Fitch's loan level special servicer rating is assigned to special servicers typically engaged to manage individual loans (vs. portfolio or CMBS transactions), have smaller, specialized staff and portfolios or workout volumes that do not require the staff and technology infrastructure associated with special servicing large pools of loans. As of
The affirmation of the primary servicer rating reflects the company's experienced and tenured management team, effective technology infrastructure, long history providing loan servicing functions for Voya's North American-based life insurance companies, and the financial support provided by Voya Financial, Inc., rated 'BBB' with a Positive Rating Outlook by Fitch. As of
Voya Financial is the successor to ING Group's U.S. retirement, investment management and insurance operations. In May of 2013, VOYA debuted on
The servicer rating is based on Fitch's methodology, as described in the reports highlighted at the end of the press release.
Additional information is available at 'www.fitchratings.com'.
--'Rating Criteria for U.S. Commercial Mortgage Servicers' (
--'Rating Criteria for Structured Finance Servicers' (
Rating Criteria for U.S. Commercial Mortgage Servicers
Rating Criteria for Structured Finance Servicers
Source: Fitch Ratings
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