CLNC 2019-FL1, Ltd.: Rating Report

DBRS Limited (DBRS Morningstar) confirmed its ratings on all classes of notes issued by CLNC 2019-FL1, Ltd. as follows:

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

All trends are Stable.