Credit Rating Report

TRTX 2019-FL3 Issuer, Ltd.: Surveillance Performance Update

CMBS

Summary

DBRS, Inc. (Morningstar DBRS) downgraded the credit ratings on two classes of notes issued by TRTX 2019-FL3 Issuer, Ltd. The trend on Class F is Negative. Class G has a credit rating that does not typically
carry a trend in commercial mortgage-backed securities (CMBS) credit ratings. The trends on all remaining classes are Stable.

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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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