Credit Rating Report

PFP 2019-6, Ltd.: Surveillance Performance Update

CMBS

Summary

DBRS, Inc. (DBRS Morningstar) upgraded its ratings on four classes of notes issued by PFP 2019-6, Ltd. and confirmed its rating on one class of notes. All classes have Stable trends. The rating upgrades reflect the increased credit support to the bonds as a result of successful loan repayment, as there has been collateral reduction of 73.1% since issuance with nine of the original 36 loans remaining in the trust as of February 2023 reporting.

Ratings

PFP 2019-6, Ltd.
  • Date Issued:Mar 10, 2023
  • Rating Action:Upgraded
  • Ratings:AAA (sf)
  • Trend:Stb
  • Rating Recovery:
  • Issued:US
  • Date Issued:Mar 10, 2023
  • Rating Action:Upgraded
  • Ratings:AAA (sf)
  • Trend:Stb
  • Rating Recovery:
  • Issued:US
  • Date Issued:Mar 10, 2023
  • Rating Action:Upgraded
  • Ratings:AA (sf)
  • Trend:Stb
  • Rating Recovery:
  • Issued:US
  • Date Issued:Mar 10, 2023
  • Rating Action:Upgraded
  • Ratings:A (low) (sf)
  • Trend:Stb
  • Rating Recovery:
  • Issued:US
  • Date Issued:Mar 10, 2023
  • Rating Action:Confirmed
  • Ratings:BB (sf)
  • Trend:Stb
  • Rating Recovery:
  • Issued:US
  • 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

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