M360 2019-CRE2, Ltd.: Surveillance Performance Update

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
  22-Jul-22	Class A Senior Secured Floating Rate Notes	AAA (sf)	Stb	Confirmed	CA
  22-Jul-22	Class A-S Second Priority Secured Floating Rate Notes	AAA (sf)	Stb	Confirmed	CA
  22-Jul-22	Class B Third Priority Secured Floating Rate Notes	AA (low) (sf)	Stb	Confirmed	CA
  22-Jul-22	Class C Fourth Priority Secured Floating Rate Notes	A (low) (sf)	Stb	Confirmed	CA
  22-Jul-22	Class D Fifth Priority Secured Floating Rate Notes	BBB (high) (sf)	Stb	Confirmed	CA
  22-Jul-22	Class E Sixth Priority Secured Floating Rate Notes	BBB (low) (sf)	Stb	Confirmed	CA
  22-Jul-22	Class F Non-Offered Floating Rate Notes	BB (low) (sf)	Neg	Confirmed	CA
  22-Jul-22	Class G Non-Offered Floating Rate Notes	B (low) (sf)	Neg	Confirmed	CA

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