Methodology
North American CMBS Multi-Borrower Rating Methodology (Archived)
CMBSAvailable Documents
Related Documents
Press Release:
- Morningstar DBRS Confirms All Credit Ratings on MF1 2024-FL14 LLC
- Morningstar DBRS Confirms All Credit Ratings on BSPRT 2021-FL6 Issuer, Ltd.
- Morningstar DBRS Confirms Credit Ratings on All Classes of BSCMS 2007-PWR18
- Morningstar DBRS Confirms All Credit Ratings of COMM 2014-UBS6 Mortgage Trust
- Morningstar DBRS Upgrades Credit Ratings on Three Classes of PFP 2021-8, Ltd.
- Morningstar DBRS Confirms Credit Ratings on All Classes of BXMT 2020-FL2, Ltd.
- Morningstar DBRS Confirms Credit Ratings on All Classes of STWD 2019-FL1, Ltd.
- Morningstar DBRS Downgrades Two Credit Ratings of COMM 2014-UBS2 Mortgage Trust
- Morningstar DBRS Downgrades Four Classes of GS Mortgage Securities Trust 2014-GC24
- Morningstar DBRS Downgrades Seven Classes of GS Mortgage Securities Trust 2014-GC26
- Morningstar DBRS Downgrades Six Classes of CSAIL 2016-C5 Commercial Mortgage Trust
- Morningstar DBRS Upgrades Credit Ratings on Two Classes of HGI CRE CLO 2021-FL2, Ltd.
- Morningstar DBRS Confirms All Credit Ratings of ACRE Commercial Mortgage 2017-FL3 Ltd.
- Morningstar DBRS Upgrades Credit Ratings on Three Classes of HGI CRE CLO 2021-FL1, LTD.
- Morningstar DBRS Confirms Credit Ratings on All Classes of LoanCore 2021-CRE6 Issuer Ltd.
- Morningstar DBRS Discontinues Credit Ratings on All Remaining Classes of PFP 2021-8, Ltd.
- Morningstar DBRS Discontinues Credit Ratings on All Remaining Classes of BDS 2021-FL7 Ltd.
- Morningstar DBRS Downgrades Credit Ratings on Six Classes of COMM 2014-UBS4 Mortgage Trust
- Morningstar DBRS Downgrades Credit Ratings on Five Classes of COMM 2015-LC21 Mortgage Trust
- Morningstar DBRS Downgrades Credit Ratings on Four Classes of COMM 2014-UBS5 Mortgage Trust
- Morningstar DBRS Confirms Credit Ratings on All Classes of Benchmark 2020-IG3 Mortgage Trust
- Morningstar DBRS Discontinues Credit Ratings on All Remaining Classes of LCCM 2021-FL2 Trust
- Morningstar DBRS Discontinues Credit Ratings on All Remaining Classes of BPCRE 2022-FL2, Ltd.
- Morningstar DBRS Downgrades Credit Ratings on Four Classes of COMM 2014-CCRE14 Mortgage Trust
- Morningstar DBRS Confirms All Credit Ratings of Wells Fargo Commercial Mortgage Trust 2014-LC16
- Morningstar DBRS Downgrades Five Classes of JPMCC Commercial Mortgage Securities Trust 2017-JP6
- Morningstar DBRS Downgrades Credit Rating on One Class of ACRE Commercial Mortgage 2021-FL4 Ltd.
- Morningstar DBRS Downgrades Seven Classes of JPMBB Commercial Mortgage Securities Trust 2015-C27
- Morningstar DBRS Downgrades Seven Classes of JPMBB Commercial Mortgage Securities Trust 2015-C31
- Morningstar DBRS Confirms Credit Ratings on All Classes of A10 Bridge Asset Financing 2021-D, LLC
- Morningstar DBRS Discontinues Credit Ratings on All Remaining Classes of VMC Finance 2022-FL5 LLC
- Morningstar DBRS Confirms Credit Ratings on All Classes of Ready Capital Mortgage Trust 2019-6
- Morningstar DBRS Confirms Credit Ratings on All Classes of WFRBS Commercial Mortgage Trust 2012-C10
- Morningstar DBRS Discontinues Credit Ratings on All Remaining Classes of TRTX 2019-FL3 Issuer, Ltd.
- Morningstar DBRS Downgrades Credit Ratings on 12 Classes of CSAIL 2017-C8 Commercial Mortgage Trust
- Morningstar DBRS Assigns Provisional Credit Ratings to Velocity Commercial Capital Loan Trust 2025-1
- Morningstar DBRS Assigns Provisional Credit Ratings to Velocity Commercial Capital Loan Trust 2025-2
- Morningstar DBRS Downgrades Credit Rating on One Class of COMM 2014-LC15 Mortgage Trust
- Morningstar DBRS Discontinues Credit Ratings on All Classes of Shelter Growth CRE 2023-FL5 Issuer Ltd.
- Morningstar DBRS Downgrades Credit Ratings on Two Classes of A10 Permanent Asset Financing 2015-I, LLC
- Morningstar DBRS Finalizes Provisional Credit Ratings on Velocity Commercial Capital Loan Trust 2025-1
- Morningstar DBRS Takes Credit Rating Actions on Nine Small-Balance Commercial Real Estate Transactions
- Morningstar DBRS Assigns Provisional Credit Ratings to FREMF 2025-K168 Mortgage Trust, Series 2025-K168
- Morningstar DBRS Discontinues Credit Ratings on All Remaining Classes of FS Rialto 2022-FL5 Issuer, LLC
- Morningstar DBRS Assigns Credit Rating to Freddie Mac Structured Pass-Through Certificates, Series Q-032
- Morningstar DBRS Confirms Credit Ratings on All Classes of Citigroup Commercial Mortgage Trust 2013-GC15
- Morningstar DBRS Downgrades Credit Ratings on Three Classes of WFRBS Commercial Mortgage Trust 2014-LC14
- Morningstar DBRS Confirms Credit Ratings on All Classes of Wells Fargo Commercial Mortgage Trust 2016-C34
- Morningstar DBRS Discontinues Credit Ratings on All Remaining Classes of ACRES Commercial Realty 2021-FL1
- Morningstar DBRS Finalizes Provisional Credit Ratings on FREMF 2025-K168 Mortgage Trust, Series 2025-K168
- Morningstar DBRS Assigns Provisional Credit Ratings to Real Estate Asset Liquidity Trust, Series 2025-1
- Morningstar DBRS Downgrades Credit Ratings on Four Classes of Wells Fargo Commercial Mortgage Trust 2016-C32
- Morningstar DBRS Downgrades Credit Ratings on Three Classes of Citigroup Commercial Mortgage Trust 2015-GC31
- Morningstar DBRS Finalizes Provisional Credit Ratings on Real Estate Asset Liquidity Trust, Series 2025-1
- Morningstar DBRS Downgrades Credit Ratings on Eight Classes of Wells Fargo Commercial Mortgage Trust 2018-C44
- Morningstar DBRS Downgrades Credit Ratings on Four Classes of Wells Fargo Commercial Mortgage Trust 2016-NXS5
- Morningstar DBRS Downgrades Credit Ratings on Six Classes of Wells Fargo Commercial Mortgage Trust 2014-LC18
- Morningstar DBRS Assigns Provisional Credit Ratings to JPMCC Multifamily Housing Mortgage Loan Trust 2025-Q032
- Morningstar DBRS Assigns Provisional Ratings to Freddie Mac Structured Pass-Through Certificates, Series K-168
- Morningstar DBRS Discontinues Credit Ratings on All Remaining Classes of ACRE Commercial Mortgage 2017-FL3 Ltd.
- Morningstar DBRS Discontinues Credit Ratings on All Remaining Classes of GS Mortgage Securities Trust 2013-GC10
- Morningstar DBRS Downgrades Credit Ratings on Two Classes of JPMBB Commercial Mortgage Securities Trust 2015-C29
- Morningstar DBRS Finalizes Provisional Ratings on Freddie Mac Structured Pass-Through Certificates, Series K-168
- Morningstar DBRS Discontinues Credit Ratings on All Remaining Classes of Two Freddie Mac-Issued CMBS Transactions
- Morningstar DBRS Downgrades Credit Ratings on Five Classes of JPMBB Commercial Mortgage Securities Trust 2015-C28
- Morningstar DBRS Downgrades Credit Ratings on Four Classes of JPMBB Commercial Mortgage Securities Trust 2015-C29
- Morningstar DBRS Downgrades Credit Ratings on Four Classes of JPMBB Commercial Mortgage Securities Trust 2015-C32
- Morningstar DBRS Finalizes Provisional Credit Ratings on JPMCC Multifamily Housing Mortgage Loan Trust 2025-Q032
- Morningstar DBRS Confirms Credit Ratings on All Classes of Arbor Realty Commercial Real Estate Notes 2021-FL1, Ltd.
- Morningstar DBRS Discontinues Credit Ratings on All Remaining Classes of Shelter Growth CRE 2022-FL4 Issuer Limited
- Morningstar DBRS Discontinues Credit Ratings on All Remaining Classes of ACRES Commercial Realty 2021-FL2 Issuer, Ltd.
- Morningstar DBRS Changes Trends on Nine Classes of MF1 2022-B1 LLC to Negative from Stable; Confirms All Credit Ratings
- Morningstar DBRS Discontinues Credit Ratings on All Remaining Classes of Ready Capital Mortgage Financing 2021-FL6, LLC
- Morningstar DBRS Discontinues Credit Ratings on All Remaining Classes of Ready Capital Mortgage Financing 2022-FL8, LLC
- Morningstar DBRS Discontinues Credit Ratings on All Remaining Classes of FREMF 2017-K729 Mortgage Trust, Series 2017-K729
- Morningstar DBRS Downgrades Credit Ratings on Five Classes of Benchmark 2020-IG2 Mortgage Trust, Changes Trends on Five Classes
- Morningstar DBRS Discontinues Credit Ratings on All Remaining Classes of Arbor Realty Commercial Real Estate Notes 2022-FL2, LLC
- Morningstar DBRS Confirms All Classes of JPMCC Commercial Mortgage Securities Trust 2014-C20, Changes Trend on Two Classes to Stable
- Morningstar DBRS Changes Trends on Nine Classes of Benchmark 2018-B7 Mortgage Trust to Stable From Negative, Confirms All Credit Ratings
- Morningstar DBRS Downgrades Nine Classes of WFRBS Commercial Mortgage Trust 2014-C23, Changes Trends on Five Classes to Negative from Stable
- Morningstar DBRS Changes Trend on One Class of A10 Permanent Asset Financing 2017-II, LLC, to Stable From Negative; Confirms All Credit Ratings
- Morningstar DBRS Downgrades All Classes of Citigroup Commercial Mortgage Trust 2014-GC25, Changes Trends on Two Classes to Negative from Stable
- Morningstar DBRS Downgrades the Credit Rating on One Class of WFRBS Commercial Mortgage Trust 2014-C21, Changes Trends on Five Classes to Stable
- Morningstar DBRS Upgrades Credit Ratings on Two Classes of Ready Capital Mortgage Financing 2021-FL6, LLC; Downgrades Credit Rating on One Class
- Morningstar DBRS Changes Trends on Three Classes of Morgan Stanley Capital I Trust 2015-UBS8 to Negative From Stable; Confirms All Credit Ratings
- Morningstar DBRS Confirms Credit Ratings on All Classes of Morgan Stanley Bank of America Merrill Lynch Trust 2013-C9, Changes Trends to Positive
- Morningstar DBRS Downgrades the Credit Rating on One Class of Wells Fargo Commercial Mortgage Trust 2015-NXS2, Confirms All Remaining Credit Ratings
- Morningstar DBRS Publishes Updated North American CMBS Methodologies, Archives Rating North American CMBS Interest-Only Certificates Methodology
- Morningstar DBRS Confirms Credit Ratings on All Classes of CFCRE Commercial Mortgage Trust 2016-C6, Changes Trends on Four Classes to Negative From Stable
- Morningstar DBRS Downgrades Credit Ratings on Eight Classes of GS Mortgage Securities Trust 2017-GS5, Changes Trends on Six Classes to Negative From Stable
- Morningstar DBRS Downgrades Credit Ratings on Five Classes of JPMBB Commercial Mortgage Securities Trust 2014-C26, Changes Trends on Three Classes to Stable
- Morningstar DBRS Downgrades Credit Ratings on Six Classes of Wells Fargo Commercial Mortgage Trust 2016-C33, Changes Trend on One Class to Negative From Stable
- Morningstar DBRS Downgrades Four Classes of Morgan Stanley Bank of America Merrill Lynch Trust 2014-C19, Changes Trends on Three Classes to Negative from Stable
- Morningstar DBRS Downgrades Credit Ratings on 11 Classes of JPMBB Commercial Mortgage Securities Trust 2014-C25, Changes Trends on Four Classes to Stable From Negative
- Morningstar DBRS Downgrades Credit Ratings on Eight Classes of JPMCC Commercial Mortgage Securities Trust 2016-JP2, Changes Trends on Two Classes to Stable From Negative
- Morningstar DBRS Downgrades Credit Ratings on 12 Classes of Morgan Stanley Bank of America Merrill Lynch Trust 2016-C28, Changes Trend on One Class to Negative from Stable
Contacts
Georgios Katsaros
Managing Director - Structured Finance Analytics
+(1) 212 806 3216
georgios.katsaros@morningstar.com- Brandon Olson
Associate Managing Director - North American CMBS Ratings
+(1) 312 332 0889
brandon.olson@morningstar.com - John Amman
Associate Managing Director - North American CMBS Ratings
+(1) 312 332 9442
john.amman@morningstar.com - Erin Stafford
Managing Director - North American Real Estate Ratings
+(1) 312 332 3291
erin.stafford@morningstar.com