NEW YORK, May 29, 2015 /PRNewswire/ -- Morningstar
Credit Ratings, LLC today assigned preliminary ratings for the
commercial mortgage-backed securities (CMBS) transaction JPMBB
Commercial Mortgage Securities Trust 2015-C29 Commercial Mortgage
Pass-Through Certificates, Series 2015-C29 (JPMBB 2015-C29). The
collateral supporting JPMBB 2015-C29 consists of 63 mortgage loans
secured by 85 commercial real estate properties. The preliminary
ratings are based on information known to Morningstar as of
May 29, 2015.
|
Preliminary
Ratings (as of May 29, 2015)
|
|
Class
|
Balance/
Notional Amt. ($)
|
Preliminary
Ratings
|
Morningstar
DSCR (x)
|
Morningstar
BLTV (%)
|
Morningstar
ELTV (%)
|
Credit Support
Levels (%)
|
|
Offered
Certificates
|
|
|
|
|
|
|
Class A-1
|
49,025,000
|
AAA
|
2.32
|
61.2
|
48.8
|
30.000
|
|
Class A-2
|
212,993,000
|
AAA
|
2.32
|
61.2
|
48.8
|
30.000
|
|
Class
A-3A1
|
60,000,000
|
AAA
|
2.32
|
61.2
|
48.8
|
30.000
|
|
Class A-4
|
222,921,000
|
AAA
|
2.32
|
61.2
|
48.8
|
30.000
|
|
Class A-SB
|
69,203,000
|
AAA
|
2.32
|
61.2
|
48.8
|
30.000
|
|
Class X-A
|
753,133,000
|
AAA
|
N/A
|
N/A
|
N/A
|
N/A
|
|
Class X-B
|
54,147,000
|
AAA
|
N/A
|
N/A
|
N/A
|
N/A
|
|
Class A-S
|
63,991,000
|
AAA
|
2.12
|
66.9
|
54.4
|
23.500
|
|
Class B
|
54,147,000
|
AA-
|
1.98
|
71.7
|
59.3
|
18.000
|
|
Class C
|
44,302,000
|
A-
|
1.88
|
75.6
|
63.2
|
13.500
|
|
Class EC
|
162,440,000
|
A-
|
1.88
|
75.6
|
63.2
|
13.500
|
|
Class D
|
52,917,000
|
BBB-
|
1.77
|
80.3
|
67.9
|
8.125
|
|
Non-Offered
Certificates
|
|
|
|
|
|
|
Class
A-3A2
|
75,000,000
|
AAA
|
N/A
|
N/A
|
N/A
|
30.000
|
|
Class X-C
|
44,302,000
|
AAA
|
N/A
|
N/A
|
N/A
|
N/A
|
|
Class X-D
|
52,917,000
|
AAA
|
N/A
|
N/A
|
N/A
|
N/A
|
|
Class X-E
|
20,920,000
|
AAA
|
N/A
|
N/A
|
N/A
|
N/A
|
|
Class X-F
|
11,075,000
|
AAA
|
N/A
|
N/A
|
N/A
|
N/A
|
|
Class X-NR
|
47,994,178
|
AAA
|
N/A
|
N/A
|
N/A
|
N/A
|
|
Class E
|
20,920,000
|
BB
|
1.73
|
82.2
|
69.8
|
6.000
|
|
Class F
|
11,075,000
|
B+
|
1.71
|
83.1
|
70.8
|
4.875
|
|
Class NR
|
47,994,178
|
NR
|
1.63
|
89.5
|
77.0
|
0.000
|
|
|
|
|
|
|
|
|
NR – Not
Rated
|
For complete details about the preliminary ratings for this
transaction, Morningstar's Presale Analysis Package, including the
Presale Report, Asset Summary Reports, Loan Analysis Summary Table,
and the Representations, Warranties, and Enforcement Mechanisms, is
available under the Ratings Reports tab at
https://ratingagency.morningstar.com. Morningstar could receive
subsequent information that may result in final ratings that differ
from the preliminary ratings.
About Morningstar Credit Ratings, LLC and Morningstar,
Inc.
Morningstar Credit Ratings, LLC is a Nationally
Recognized Statistical Rating Organization (NRSRO) that specializes
in structured credit research and ratings and offers a wide array
of services including new-issue ratings and analysis, operational
risk assessments, surveillance services, data, and technology
solutions.
Morningstar Credit Ratings, LLC is a subsidiary of Morningstar,
Inc. (NASDAQ: MORN), a leading provider of independent investment
research in North America,
Europe, Australia, and Asia.
Morningstar, Inc. offers an extensive line of products and
services for individual investors, financial advisors, asset
managers, and retirement plan providers and sponsors. Morningstar
provides data on approximately 500,000 investment offerings,
including stocks, mutual funds, and similar vehicles, along with
real-time global market data on more than 15 million equities,
indexes, futures, options, commodities, and precious metals, in
addition to foreign exchange and Treasury markets. Morningstar also
offers investment management services through its investment
advisory subsidiaries and had more than $179
billion in assets under advisement and management as of
March 31, 2015. The company has
operations in 27 countries.
Morningstar, Inc. is not an NRSRO, and its credit ratings on
corporate issuers are not NRSRO credit ratings.
©2015 Morningstar, Inc. All Rights Reserved.
MORN-R
Media Contact:
Michelle Weiss, +1 267-960-6014 or
michelle.weiss@morningstar.com
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/morningstar-credit-ratings-assigns-preliminary-ratings-for-jpmbb-commercial-mortgage-securities-trust-2015-c29-commercial-mortgage-pass-through-certificates-series-2015-c29-jpmbb-2015-c29-300090963.html
SOURCE Morningstar, Inc.