Credit Rating Report

STWD 2019-FL1, Ltd.: Surveillance Performance Update

CMBS

Summary

DBRS, Inc. (Morningstar DBRS) confirmed all credit ratings on all classes of notes issued by STWD 2019- FL1, Ltd. At the same time, Morningstar DBRS changed the trends on Classes E, F, and G to Negative from Stable. The trends on all remaining classes are Stable.

Ratings

  • 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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