Credit Rating Report

VMC Finance 2021-FL4 LLC: Surveillance Performance Update

CMBS

Summary

DBRS, Inc. (Morningstar DBRS) downgraded its credit ratings on two classes of notes issued by VMC Finance 2021-FL4 LLC and confirmed its credit ratings on the remaining classes of notes. Morningstar DBRS also changed the trend on Class E to Negative from Stable while the trends on the remaining classes remain Stable.

Ratings

VMC Finance 2021-FL4 LLC
  • Date Issued:Jul 1, 2024
  • Rating Action:Trend Change, Confirmed
  • Ratings:BBB (low) (sf)
  • Trend:Neg
  • Rating Recovery:
  • Issued:US
  • Date Issued:Jul 1, 2024
  • Rating Action:Confirmed
  • Ratings:AAA (sf)
  • Trend:Stb
  • Rating Recovery:
  • Issued:US
  • Date Issued:Jul 1, 2024
  • Rating Action:Confirmed
  • Ratings:AAA (sf)
  • Trend:Stb
  • Rating Recovery:
  • Issued:US
  • Date Issued:Jul 1, 2024
  • Rating Action:Confirmed
  • Ratings:AA (sf)
  • Trend:Stb
  • Rating Recovery:
  • Issued:US
  • Date Issued:Jul 1, 2024
  • Rating Action:Confirmed
  • Ratings:A (sf)
  • Trend:Stb
  • Rating Recovery:
  • Issued:US
  • Date Issued:Jul 1, 2024
  • Rating Action:Confirmed
  • Ratings:BBB (sf)
  • Trend:Stb
  • Rating Recovery:
  • Issued:US
  • Date Issued:Jul 1, 2024
  • Rating Action:Downgraded
  • Ratings:CCC (sf)
  • Trend:--
  • Rating Recovery:
  • Issued:US
  • Date Issued:Jul 1, 2024
  • Rating Action:Downgraded
  • Ratings:CCC (sf)
  • Trend:--
  • 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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