AP NEWS

KBRA Releases Monthly CMBS Trend Watch

February 6, 2019

NEW YORK--(BUSINESS WIRE)--Feb 6, 2019--Kroll Bond Rating Agency (KBRA) releases January’s CMBS Trend Watch. CMBS private label pricing was sluggish last month, at $1.2 billion, which was a significant drop of 76.1% from $4.9 billion in January 2018. However, despite a slow start to the year, 2019 CMBS volume appears to be picking up.

With increased market stability and the Federal Reserve in patient mode, the forward pipeline is gaining momentum. In February, we could see the launch of 10 or more single-borrower deals as well as seven conduits and three commercial real estate collateralized loan obligations (CRE CLOs).

In January, KBRA published pre-sales for five deals ($3.8 billion), including one conduit ($883.5 million), one CRE CLO ($600.0 million), one Freddie K-Series ($1.3 billion), one single borrower ($644.1 million), and one small balance commercial ($399.2 million).

Surveillance activity includes the review of 231 rated classes, consisting of 226 affirmations, three upgrades, and two downgrades. The activity was effectuated across 21 transactions, including 13 conduits, five single borrowers, two Freddie K-Series, and one re-remic. Additionally, we published three other notable releases regarding a special servicing transfer, a CRE CLO ramp-up, and the vacancy of a major tenant in a single borrower transaction.

In this issue’s Spotlight section, we provide a summary of a recent release on the lodging sector, , which was published on February 4.

The three-month rolling average IO Index increased for the third consecutive month in January to 59.1% from 58.6% in December.

To access the report, click .

Related Publications: (available at )

(KCP) published two retail pieces on Sears and Bed Bath & Beyond

CONNECT WITH KBRA

Twitter LinkedIn Download the iOS App YouTube

About KBRA and KBRA Europe

KBRA is a full service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. In addition, KBRA is designated as a designated rating organization by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus, is recognized by the National Association of Insurance Commissioners as a Credit Rating Provider, and is a certified Credit Rating Agency (CRA) by the European Securities and Markets Authority (ESMA). Kroll Bond Rating Agency Europe Limited is registered with ESMA as a CRA.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190206005561/en/

CONTACT: Analytical:

Courtney Kelly, Associate

(646) 731-3362

ckelly@kbra.com

Erika Hinman, Associate Director

(646) 731-2418

ehinman@kbra.com

Larry Kay, Senior Director

(646) 731-2452

lkay@kbra.com

Eric Thompson, Senior Managing Director

(646) 731-2355

ethompson@kbra.com

KEYWORD: UNITED STATES NORTH AMERICA NEW YORK

INDUSTRY KEYWORD: PROFESSIONAL SERVICES BANKING FINANCE

SOURCE: Kroll Bond Rating Agency

Copyright Business Wire 2019.

PUB: 02/06/2019 12:12 PM/DISC: 02/06/2019 12:12 PM

http://www.businesswire.com/news/home/20190206005561/en

AP RADIO
Update hourly