Morningstar DBRS Discontinues and Withdraws Credit Rating on Senior Commercial Real Estate Loan Advanced to Entities Owned and Managed by Blackstone

DBRS Ratings Limited (Morningstar DBRS) discontinued and withdrew its A (low) credit rating on the senior commercial real estate loan (the senior loan) advanced by BNP Paribas to several entities ultimately owned and managed by The Blackstone Group Inc.

The discontinuation reflects the request from the facility agent to withdraw the credit rating. Prior to the discontinuation, the outstanding principal balance of the senior loan was GBP 141,886,600.

The principal methodology applicable to the credit rating is:

European CMBS Rating and Surveillance Methodology (17 January 2024) https://dbrs.morningstar.com/research/426818.

In Morningstar DBRS' opinion, a Discontinue-Withdrawn credit rating action does not warrant the application of the entire principal methodology.

For details on analytical and regulatory disclosures please refer to the latest rating action press release published for this transaction: https://dbrs.morningstar.com/research/444592.

Lead Analyst: Dinesh Thapar, Vice President
Rating Committee Chair: Mirco Iacobucci, Senior Vice President, Sector Lead
Initial Rating Date: 30 December 2022

DBRS Ratings Limited
1 Oliver's Yard 55-71 City Road 2nd Floor,
London EC1Y 1HQ United Kingdom
Tel. +44 (0) 20 7855 6600
Registered and incorporated under the laws of England and Wales: Company No. 7139960

A description of how Morningstar DBRS analyses structured finance transactions and how the methodologies are collectively applied can be found at: https://dbrs.morningstar.com/research/439604.

For more information on this credit or on this industry, visit dbrs.morningstar.com or contact us at info-DBRS@morningstar.com.