Real Estate Asset Liquidity Trust, Series 2025-1: Presale Report

Ratings

• Date Issued	Debt Rated	Rating	Trend	Action	Attributesi 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
  27-Feb-25	Class A-1	(P) AAA (sf)	Stb	Provis.-New	US
  27-Feb-25	Class A-2	(P) AAA (sf)	Stb	Provis.-New	US
  27-Feb-25	Class X	(P) AA (high) (sf)	Stb	Provis.-New	US
  27-Feb-25	Class B	(P) AA (sf)	Stb	Provis.-New	US
  27-Feb-25	Class C	(P) A (sf)	Stb	Provis.-New	US
  27-Feb-25	Class D-1	(P) BBB (sf)	Stb	Provis.-New	US
  27-Feb-25	Class D-2	(P) BBB (sf)	Stb	Provis.-New	US
  27-Feb-25	Class E	(P) BBB (low) (sf)	Stb	Provis.-New	US
  27-Feb-25	Class F	(P) BB (sf)	Stb	Provis.-New	US
  27-Feb-25	Class G	(P) B (sf)	Stb	Provis.-New	US

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