KEY RATING DRIVERS
The affirmations are based on relatively stable performance of the underlying collateral pool since issuance. There have been no delinquent loans since issuance. One loan is in special servicing (0.65%) and another is on the master servicer's watchlist (0.19%). Fitch reviewed the most recently available quarterly financial performance of the pool as well as updated rent rolls for the top 15 loans. Year-end (YE) 2013 financials were available for 53% of the transaction.
As of the
The largest loan in the pool (6.1%),
The second largest loan in the pool (5.8%),
The specially serviced loan is secured by a multifamily property (.65%) located in
All classes maintain Stable Outlooks. 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 'COMM 2013-CCRE9' (
Fitch affirms the following classes as indicated:
Fitch does not rate the class G or X-B certificates.
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 report:
--'COMM 2013-CCRE9 -- Appendix' (
Additional information on Fitch's criteria for analyzing U.S. CMBS transactions is available in the
Structured Finance >> CMBS >> Criteria Reports
Additional information is available at 'www.fitchratings.com'.
--'Global Structured Finance Rating Criteria' (
--'U.S. Fixed-Rate Multiborrower CMBS Surveillance and Re-REMIC Criteria' (
Global Structured Finance Rating Criteria
U.S. Fixed-Rate Multiborrower CMBS Surveillance and Re-REMIC Criteria
Source: Fitch Ratings
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