-

KBRA Credit Profile Releases CREFC High-Yield, Distressed Assets, & Servicing Conference 2025 Recap

NEW YORK--(BUSINESS WIRE)--KBRA Credit Profile (KCP), a division of KBRA Analytics, attended the Commercial Real Estate Finance Council’s (CREFC) annual High-Yield, Distressed Assets, & Servicing Conference, held in New York City on March 4. Over 300 commercial real estate (CRE) professionals attended the event, which comprised five panels and a one-one-one discussion.

Key Takeaways

  • Persistent inflation concerns and the possibility of stagflation continue to weigh on market sentiment, highlighting the difficulty in predicting near-term interest rate moves.
  • With a wave of maturities looming, attendees urged borrowers and servicers to initiate discussions early to help mitigate default risk and create opportunities for pre-emptive workouts.
  • Office-to-residential conversions face feasibility challenges, while construction financing, especially for large projects, remains tight.
  • Office delinquencies continue to lead defaults, and multifamily continues to attract investors even as margins are pressured by rising costs.
  • Private credit providers are stepping in as banks reduce their CRE exposure, but underwriting standards have become more selective, and pricing remains elevated.
  • Amid euphoric sentiment for data centers, panelists noted the importance of due diligence and prudent underwriting.

Click here to view the report.

About KBRA

KBRA, one of the major credit rating agencies, is registered in the U.S., EU, and the UK. KBRA is recognized as a Qualified Rating Agency in Taiwan, and is also a Designated Rating Organization for structured finance ratings in Canada. As a full-service credit rating agency, investors can use KBRA ratings for regulatory capital purposes in multiple jurisdictions.

Doc ID: 1008449

Contacts

Sam Nadol, Analyst
+1 215-882-5867
sam.nadol@kbra.com

Vayu Sarangam, Analyst
+1 215-882-5419
vayu.sarangam@kbra.com

Daniel Greathouse, Senior Analyst
+1 215-882-5439
daniel.greathouse@kbra.com

Nick Heller, Associate Director
+1 215-882-5426
nick.heller@kbra.com

Kroll Bond Rating Agency, LLC

Details
Headquarters: New York City, New York
CEO: Jim Nadler
Employees: 400+
Organization: PRI

Release Versions

Contacts

Sam Nadol, Analyst
+1 215-882-5867
sam.nadol@kbra.com

Vayu Sarangam, Analyst
+1 215-882-5419
vayu.sarangam@kbra.com

Daniel Greathouse, Senior Analyst
+1 215-882-5439
daniel.greathouse@kbra.com

Nick Heller, Associate Director
+1 215-882-5426
nick.heller@kbra.com

Social Media Profiles
More News From Kroll Bond Rating Agency, LLC

KBRA Releases Research – What’s up, Doc – Medical Professional Mortgages, A New Niche in RMBS?

NEW YORK--(BUSINESS WIRE)--KBRA releases research assessing the characteristics of medical professional mortgage (MPM) loans, with a focus on their potential role as a niche collateral segment within the prime private label residential mortgage-backed securities (RMBS) market. MPMs, often called physician or doctor loans, are specialized prime mortgage programs designed for medical professionals whose early-career financial profiles often include high student debt, limited savings, and reliance...

KBRA Assigns Preliminary Ratings to OBX 2026-NQM4 Trust

NEW YORK--(BUSINESS WIRE)--KBRA assigns preliminary ratings to 14 classes of mortgage-backed notes from OBX 2026-NQM4 Trust, a $789.6 million non-prime RMBS transaction. The underlying collateral, comprising 1,476 residential mortgages, is characterized by fixed-rate mortgages (FRMs) and hybrid adjustable-rate mortgages (ARMs) making up 92.3% and 7.7% of the pool, respectively. A majority of the loans are either classified as non-qualified mortgages (Non-QM; 37.0%) or exempt (51.6%) from the Ab...

KBRA Assigns Rating to MSC Income Fund, Inc.'s $150 Million Senior Unsecured Notes Due 2029

NEW YORK--(BUSINESS WIRE)--KBRA assigns a rating of BBB- to MSC Income Fund, Inc.'s (NYSE: MSIF or “the company”) $150 million, 6.34% senior unsecured notes due 2029. The rating Outlook is Stable. The proceeds will be used for repayment of existing secured indebtedness. Key Credit Considerations The rating is supported by MSIF’s well diversified $1.3 billion investment portfolio spread among 150 portfolio companies (including equity investments) across 30+ industries as of 4Q25, with ~77% of it...
Back to Newsroom