KREF 2022-FL3 Ltd.: Rating Report

Ratings

• Date Issued	Debt Rated	Rating	Trend	Action	Attributesi 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
  10-Feb-22	Class A	AAA (sf)	Stb	Provis.-Final	US
  10-Feb-22	Class A-S	AAA (sf)	Stb	Provis.-Final	US
  10-Feb-22	Class B	AA (low) (sf)	Stb	Provis.-Final	US
  10-Feb-22	Class C	A (low) (sf)	Stb	Provis.-Final	US
  10-Feb-22	Class D	BBB (sf)	Stb	Provis.-Final	US
  10-Feb-22	Class E	BBB (low) (sf)	Stb	Provis.-Final	US
  10-Feb-22	Class F	BB (low) (sf)	Stb	Provis.-Final	US
  10-Feb-22	Class F-E	BB (low) (sf)	Stb	Provis.-Final	US
  10-Feb-22	Class F-X	BB (low) (sf)	Stb	Provis.-Final	US
  10-Feb-22	Class G	B (low) (sf)	Stb	Provis.-Final	US
  10-Feb-22	Class G-E	B (low) (sf)	Stb	Provis.-Final	US
  10-Feb-22	Class G-X	B (low) (sf)	Stb	Provis.-Final	US

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