KEY RATING DRIVERS
The affirmations are based on the stable performance of the underlying collateral pool. The pool has no specially serviced or delinquent loans as of the
One of the largest watchlist loans (0.7% of the pool) is secured by a 29,369 square foot (sf) retail property located in
The largest loan in the pool (12.1% of the pool) is
The Rating Outlooks on all classes remain 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 overall portfolio-level metrics. Additional information on rating sensitivity is available in the 'Wells Fargo Commercial Mortgage Trust 2012-LC5' (
Fitch affirms the following classes as indicated:
*Notional amount and interest only.
Fitch does not rate the class G 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:
--'Wells Fargo Commercial Mortgage Trust 2012-LC5 -- Appendix' (
Additional information on Fitch's criteria for analyzing U.S. CMBS transactions is available in the
Structured Finance then CMBS then 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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