NEW YORK--(BUSINESS WIRE)--Kroll Bond Rating Agency (KBRA) released its CMBS monthly newsletter, CMBS Trend Watch. KBRA closed out a busy February on the new issuance front, assigning ratings to three conduits and two single borrower deals. We continued to observe higher leverage in the three conduits, two of which had in-trust KLTVs of 101% or more, as well as credit bar-belling dynamics. The in-trust leverage on the single borrower deals was also relatively high in the context of that transaction type, as each of the two deals had in-trust KLTVs in excess of 85% or more.
The newsletter, CMBS Trend Watch, as well as the KBRA Credit Metrics spreadsheet can be found at www.krollbondratings.com. The metrics are available in spreadsheet form, and include a “Comp Calculator” feature that allows users to dynamically compare credit metrics across our rated conduit universe.
About Kroll Bond Rating Agency
KBRA was established in 2010 by Jules Kroll to restore trust in credit ratings by creating new standards for assessing risk and by offering accurate, clear and transparent ratings. KBRA is registered with the U.S. Securities and Exchange Commission as a Nationally Recognized Statistical Rating Organization (NRSRO). In addition, KBRA is recognized by the National Association of Insurance Commissioners (NAIC) as a Credit Rating Provider (CRP).