KEY RATING DRIVERS
The affirmations are based on the stable performance of the underlying collateral pool. As of the June distribution, the pool's aggregate principal balance has been paid down by 0.7% to
There are currently no delinquent or specially serviced loans and four loans on the servicer watchlist. Two of the properties are encountering occupancy issues that were anticipated at issuance and represent minimal asset risk. Two additional loans (6.9%) are Fitch loans of concern.
The largest Fitch loan of concern,
The second Fitch loan of concern is the Inland Family Dollar/Dollar General Portfolio (0.5%), a 10 property portfolio of single tenant retail buildings located in secondary markets of
The largest loan in the pool (7.4%) is secured by a portfolio of 13 suburban office properties, Innsbrook Office Portfolio, located in
The Rating Outlook for all classes remains Stable. Due to the recent issuance of the transaction and stable performance, Fitch does not foresee positive or negative ratings migration until a material economic or asset level event changes the transaction's portfolio-level metrics. Additional information on rating sensitivity is available in the report 'Wells Fargo Commercial Mortgage Trust 2013-LC12' (
Fitch affirms the following classes:
--$103.0#a million class A-3FL 'AAAsf'; Outlook Stable;
Fitch does not rate class G or the interest-only class X-B. Fitch previously withdrew the ratings on class A-5.
# Floating rate.
* Notional amount and interest-only.
a Privately placed pursuant to Rule 144A.
b Class A-S, class B and class C certificates may be exchanged for class PEX certificates; and class PEX certificates may be exchanged for class A-S, class B and class C certificates.
Additional information is available at 'www.fitchratings.com'.
--'Global Structured Finance Rating Criteria' (
--'U.S. Fixed-Rate Multiborrower CMBS Surveillance and Re-REMIC Criteria' (
A comparison of the transaction's Representations, Warranties, and Enforcement (RW&E) mechanisms to those of typical RW&Es for the asset class is available in the following reports:
--'Wells Fargo Commercial Mortgage Trust 2013-LC12' (
--'Wells Fargo Commercial Mortgage Trust 2013-LC12 -- Appendix' (
Global Structured Finance Rating Criteria
U.S. Fixed-Rate Multiborrower CMBS Surveillance and Re-REMIC Criteria
Source: Fitch Ratings
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