DBRS Assigns Provisional Ratings to Freddie Mac Structured Pass-Through Certificates, Series K-061

DBRS, Inc. (DBRS) has today assigned provisional ratings to the following classes of Structured Pass-Through Certificates, Series K-061 (the SPCs), issued by Freddie Mac Structured Pass-Through Certificates, Series K-061. The trends are Stable.

-- Class A-1 at AAA (sf)
-- Class A-2 at AAA (sf)
-- Class A-M at A (high) (sf)
-- Class X1 at AAA (sf)
-- Class XAM at AAA (sf)

The SPCs represent a pass-through interest in certificates issued by FREMF 2017-K61 Mortgage Trust, Series 2017-K61. Please see the presale report for FREMF 2017-K61 Mortgage Trust, Series 2017-K61, for more information regarding the underlying certificates.

Freddie Mac guarantees (1) timely payment of interest; (2) payment of related principal on the distribution date following the maturity date of each mortgage loan, to the extent such principal would have been distributed to the underlying Class A-1, Class A-2 and Class A-M certificates; (3) reimbursement of any realized losses and additional trust fund expenses allocated to the Underlying Guaranteed Certificates; and (4) ultimate payment of principal by the assumed final distribution date for the underlying Class A-1, Class A-2 and Class A-M certificates. All classes will be subject to ongoing surveillance, upgrades or downgrades by DBRS after the date of issuance. The ratings assigned by DBRS at issuance are based exclusively on the credit provided by the transaction structure and underlying assets of the FREMF 2017-K61 Mortgage Trust, Series 2017-K61, without regard to the Freddie Mac Guarantee. DBRS may take the Freddie Mac Guarantee into consideration for future rating actions.

Notes:
All figures are in U.S. dollars unless otherwise noted.

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

The applicable methodology is North American CMBS Rating Methodology, which can be found on our website under Methodologies.

With regard to due diligence services, DBRS was provided with the Form ABS Due Diligence-15E (Form 15-E) which contains the description of the information that the third party reviewed in conducting the due diligence services and a summary of the findings and conclusions. While DBRS did not rely on the due diligence services outlined in Form 15-E, DBRS did use the Data File outlined in the Independent Accountant’s Report in its analysis to determine the ratings.