KKR Industrial Portfolio Trust 2021-KDIP: Rating Report

On June 17, 2021, DBRS Morningstar updated the KKR Industrial Portfolio Trust 2021-KDIP rating report to clarify that the original loan-to-value (LTV) figures in the Capital Structure table were based on Issuer Value/Appraised Value. For additional transparency and comparison, we have added a column for the DBRS Morningstar corresponding LTV, which is consistent with the DBRS Morningstar Value and DBRS Morningstar LTV concluded in its analysis of the transaction and that which was disclosed in the rating report and press release. The analysis and ratings have not changed as a result of this clarification.

DBRS, Inc. (DBRS Morningstar) finalized its provisional ratings on the following classes of Commercial Mortgage Pass-Through Certificates, Series 2021-KDIP issued by KKR Industrial Portfolio Trust 2021-KDIP:

-- Class A at AAA (sf)
-- Class B at AA (high) (sf)
-- Class C at AA (low) (sf)
-- Class D at A (low) (sf)
-- Class E at BBB (low) (sf)
-- Class F at BB (low) (sf)
-- Class G at B (low) (sf)