Press Release

DBRS Discontinues Ratings on 75 Defaulted Classes and Three Repaid Classes in 11 Different CMBS Transactions

CMBS
January 30, 2015

DBRS, Inc. (DBRS) has today withdrawn and discontinued 78 ratings in the following 11 commercial mortgage-backed securities (CMBS) transactions:

-- Bear Stearns Commercial Mortgage Trust, Series 2007-TOP26
-- Bear Stearns Commercial Mortgage Trust, Series 2007-TOP28
-- COMM Mortgage Trust 2004-LNB2
-- COMM Mortgage Trust 2004-LNB3
-- GE Commercial Mortgage Corporation, Series 2005-C1
-- J.P. Morgan Chase Commercial Mortgage Securities Corp., Series 2005-LDP4
-- ML-CFC Commercial Mortgage Trust, Series 2006-1
-- Merrill Lynch Mortgage Trust 2005-CIP1
-- Morgan Stanley Capital I Trust 2005-HQ6
-- Morgan Stanley Capital I Trust, Series 2007-IQ16
-- Wachovia Bank Commercial Mortgage Trust, Series 2004-C15

DBRS does not perform continued surveillance on classes that have defaulted or been fully repaid. In conjunction with the updated default definition published on January 20, 2015, DBRS has added the ability to discontinue-withdraw D ratings after 30 business days. For this reason, the ratings of the various classes within the aforementioned deals have been discontinued. A full table of these rating actions can be found below.

Notes:
The applicable methodologies are CMBS Rating Methodology (January 2012) and CMBS North American Surveillance Methodology (January 2015), which can be found on our website under Methodologies.

This rating is endorsed by DBRS Ratings Limited for use in the European Union.

Ratings

Bear Stearns Commercial Mortgage Securities Trust, Series 2007-TOP26
  • Date Issued:Jan 30, 2015
  • Rating Action:Disc.-W/drwn
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
  • Date Issued:Jan 30, 2015
  • Rating Action:Disc.-W/drwn
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
  • Date Issued:Jan 30, 2015
  • Rating Action:Disc.-W/drwn
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
  • Date Issued:Jan 30, 2015
  • Rating Action:Disc.-W/drwn
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
  • Date Issued:Jan 30, 2015
  • Rating Action:Disc.-W/drwn
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
  • Date Issued:Jan 30, 2015
  • Rating Action:Disc.-W/drwn
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
  • Date Issued:Jan 30, 2015
  • Rating Action:Disc.-W/drwn
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
  • Date Issued:Jan 30, 2015
  • Rating Action:Disc.-W/drwn
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
  • Date Issued:Jan 30, 2015
  • Rating Action:Disc.-W/drwn
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
Bear Stearns Commercial Mortgage Securities Trust, Series 2007-TOP28
  • Date Issued:Jan 30, 2015
  • Rating Action:Disc.-W/drwn
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
  • Date Issued:Jan 30, 2015
  • Rating Action:Disc.-W/drwn
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
  • Date Issued:Jan 30, 2015
  • Rating Action:Disc.-W/drwn
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
  • Date Issued:Jan 30, 2015
  • Rating Action:Disc.-W/drwn
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
  • Date Issued:Jan 30, 2015
  • Rating Action:Disc.-W/drwn
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
COMM 2004-LNB2
  • Date Issued:Jan 30, 2015
  • Rating Action:Disc.-W/drwn
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
  • Date Issued:Jan 30, 2015
  • Rating Action:Disc.-W/drwn
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
  • Date Issued:Jan 30, 2015
  • Rating Action:Disc.-W/drwn
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
  • Date Issued:Jan 30, 2015
  • Rating Action:Disc.-W/drwn
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
COMM 2004-LNB3
  • Date Issued:Jan 30, 2015
  • Rating Action:Disc.-Repaid
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
  • Date Issued:Jan 30, 2015
  • Rating Action:Disc.-Repaid
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
  • Date Issued:Jan 30, 2015
  • Rating Action:Disc.-Repaid
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
  • Date Issued:Jan 30, 2015
  • Rating Action:Disc.-W/drwn
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
  • Date Issued:Jan 30, 2015
  • Rating Action:Disc.-W/drwn
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
  • Date Issued:Jan 30, 2015
  • Rating Action:Disc.-W/drwn
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
  • Date Issued:Jan 30, 2015
  • Rating Action:Disc.-W/drwn
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
  • Date Issued:Jan 30, 2015
  • Rating Action:Disc.-W/drwn
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
  • Date Issued:Jan 30, 2015
  • Rating Action:Disc.-W/drwn
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
GE Commercial Mortgage Corporation, Series 2005-C1
  • Date Issued:Jan 30, 2015
  • Rating Action:Disc.-W/drwn
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
  • Date Issued:Jan 30, 2015
  • Rating Action:Disc.-W/drwn
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
  • Date Issued:Jan 30, 2015
  • Rating Action:Disc.-W/drwn
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
  • Date Issued:Jan 30, 2015
  • Rating Action:Disc.-W/drwn
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
  • Date Issued:Jan 30, 2015
  • Rating Action:Disc.-W/drwn
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
  • Date Issued:Jan 30, 2015
  • Rating Action:Disc.-W/drwn
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
  • Date Issued:Jan 30, 2015
  • Rating Action:Disc.-W/drwn
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
J.P. Morgan Chase Commercial Mortgage Securities Corp., Series 2005-LDP4
  • Date Issued:Jan 30, 2015
  • Rating Action:Disc.-W/drwn
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
  • Date Issued:Jan 30, 2015
  • Rating Action:Disc.-W/drwn
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
  • Date Issued:Jan 30, 2015
  • Rating Action:Disc.-W/drwn
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
  • Date Issued:Jan 30, 2015
  • Rating Action:Disc.-W/drwn
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
  • Date Issued:Jan 30, 2015
  • Rating Action:Disc.-W/drwn
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
  • Date Issued:Jan 30, 2015
  • Rating Action:Disc.-W/drwn
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
  • Date Issued:Jan 30, 2015
  • Rating Action:Disc.-W/drwn
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
  • Date Issued:Jan 30, 2015
  • Rating Action:Disc.-W/drwn
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
  • Date Issued:Jan 30, 2015
  • Rating Action:Disc.-W/drwn
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
  • Date Issued:Jan 30, 2015
  • Rating Action:Disc.-W/drwn
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
  • Date Issued:Jan 30, 2015
  • Rating Action:Disc.-W/drwn
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
ML-CFC Commercial Mortgage Trust, Series 2006-1
  • Date Issued:Jan 30, 2015
  • Rating Action:Disc.-W/drwn
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
  • Date Issued:Jan 30, 2015
  • Rating Action:Disc.-W/drwn
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
  • Date Issued:Jan 30, 2015
  • Rating Action:Disc.-W/drwn
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
  • Date Issued:Jan 30, 2015
  • Rating Action:Disc.-W/drwn
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
  • Date Issued:Jan 30, 2015
  • Rating Action:Disc.-W/drwn
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
  • Date Issued:Jan 30, 2015
  • Rating Action:Disc.-W/drwn
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
  • Date Issued:Jan 30, 2015
  • Rating Action:Disc.-W/drwn
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
Merrill Lynch Mortgage Trust 2005-CIP1
  • Date Issued:Jan 30, 2015
  • Rating Action:Disc.-W/drwn
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
  • Date Issued:Jan 30, 2015
  • Rating Action:Disc.-W/drwn
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
  • Date Issued:Jan 30, 2015
  • Rating Action:Disc.-W/drwn
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
  • Date Issued:Jan 30, 2015
  • Rating Action:Disc.-W/drwn
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
  • Date Issued:Jan 30, 2015
  • Rating Action:Disc.-W/drwn
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
  • Date Issued:Jan 30, 2015
  • Rating Action:Disc.-W/drwn
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
  • Date Issued:Jan 30, 2015
  • Rating Action:Disc.-W/drwn
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
  • Date Issued:Jan 30, 2015
  • Rating Action:Disc.-W/drwn
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
  • Date Issued:Jan 30, 2015
  • Rating Action:Disc.-W/drwn
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
Morgan Stanley Capital I Trust 2005-HQ6
  • Date Issued:Jan 30, 2015
  • Rating Action:Disc.-W/drwn
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
  • Date Issued:Jan 30, 2015
  • Rating Action:Disc.-W/drwn
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
  • Date Issued:Jan 30, 2015
  • Rating Action:Disc.-W/drwn
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
  • Date Issued:Jan 30, 2015
  • Rating Action:Disc.-W/drwn
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
  • Date Issued:Jan 30, 2015
  • Rating Action:Disc.-W/drwn
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
  • Date Issued:Jan 30, 2015
  • Rating Action:Disc.-W/drwn
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
  • Date Issued:Jan 30, 2015
  • Rating Action:Disc.-W/drwn
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
Morgan Stanley Capital I Trust, Series 2007-IQ16
  • Date Issued:Jan 30, 2015
  • Rating Action:Disc.-W/drwn
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
  • Date Issued:Jan 30, 2015
  • Rating Action:Disc.-W/drwn
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
  • Date Issued:Jan 30, 2015
  • Rating Action:Disc.-W/drwn
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
  • Date Issued:Jan 30, 2015
  • Rating Action:Disc.-W/drwn
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
  • Date Issued:Jan 30, 2015
  • Rating Action:Disc.-W/drwn
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
Wachovia Bank Commercial Mortgage Trust, Series 2004-C15
  • Date Issued:Jan 30, 2015
  • Rating Action:Disc.-W/drwn
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
  • Date Issued:Jan 30, 2015
  • Rating Action:Disc.-W/drwn
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
  • Date Issued:Jan 30, 2015
  • Rating Action:Disc.-W/drwn
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
  • Date Issued:Jan 30, 2015
  • Rating Action:Disc.-W/drwn
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
  • Date Issued:Jan 30, 2015
  • Rating Action:Disc.-W/drwn
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
  • US = Lead Analyst based in USA
  • CA = Lead Analyst based in Canada
  • EU = Lead Analyst based in EU
  • UK = Lead Analyst based in UK
  • E = EU endorsed
  • U = UK endorsed
  • Unsolicited Participating With Access
  • Unsolicited Participating Without Access
  • Unsolicited Non-participating

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