Credit Rating Report

Shelter Growth CRE 2019-FL2 Issuer Ltd: Surveillance Performance Update

CMBS

Summary

On November 24, 2021, DBRS Limited (DBRS Morningstar) upgraded five classes of notes issued by Shelter Growth CRE 2019-FL2 Issuer Ltd (the Issuer) and confirmed the ratings on the remaining two classes. Additionally, DBRS Morningstar discontinued its rating on Class A-S as the class has been repaid in full and changed the trends on Classes B, C, D, E, F, G, and H to Stable from Negative. The rating upgrades and trend changes reflect the significant paydown to the bonds as a result of successful loan repayments and the generally stable performance of the remaining collateral pool.

Ratings

Shelter Growth CRE 2019-FL2 Issuer Ltd
  • 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

Enjoying our exclusive insights?

Register for a free account to get unrestricted access to our in-depth research, presale and ratings reports, and more. Access is limited for unregistered users.