Morningstar Credit Ratings Assigns Preliminary Ratings to CSMC Trust 2015-GLPA, Commercial Mortgage Pass-Through Certificates, Series 2015-GLPA (CSMC 2015-GLPA)

Nov 24, 2015, 15:17 ET from Morningstar, Inc.

NEW YORK, Nov. 24, 2015 /PRNewswire/ -- Morningstar Credit Ratings, LLC today assigned preliminary ratings to the commercial mortgage-backed securities (CMBS) transaction CSMC Trust 2015-GLPA, Commercial Mortgage Pass-Through Certificates, Series 2015-GLPA (CSMC 2015-GLPA). The collateral supporting CSMC 2015-GLPA consists of senior and junior portions of a single fixed-rate, interest-only mortgage loan secured by the borrower's fee simple interests in 114 industrial properties. The preliminary ratings are based on information disclosed and known to Morningstar as of Nov. 24, 2015.

 

Preliminary Ratings (as of Nov. 24, 2015)


Class

 

Balance/Notional Amt. ($)

 

Morningstar Preliminary Rating

 

Credit Support Level (%)

 

Class A

437,600,000

AAA

34.030

Class B

111,400,000

AA-

22.504

Class C

100,500,000

A-

12.106

Class D

117,000,000

BBB-

0.000

Class X-A

437,600,000

AAA

N/A

Class X-B

 

111,400,000

 

AAA

 

N/A

 

 

Morningstar's Presale Analysis Package, including the Presale Report; Rule 17g-7 Disclosures and Certification; and the Representations, Warranties, and Enforcement Mechanisms, is available under the Ratings Reports tab at https://ratingagency.morningstar.com. Morningstar could receive subsequent information that may result in final ratings that differ from the preliminary ratings.

About Morningstar Credit Ratings, LLC and Morningstar, Inc.
Morningstar Credit Ratings, LLC is a Nationally Recognized Statistical Rating Organization (NRSRO) offering a wide array of services including new-issue ratings and analysis, operational risk assessments, surveillance services, data, and technology solutions.

Morningstar Credit Ratings, LLC is a subsidiary of Morningstar, Inc. (NASDAQ: MORN), a leading provider of independent investment research in North America, Europe, Australia, and Asia.

Morningstar, Inc. offers an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors. Morningstar provides data on more than 500,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 17 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries, with more than $170 billion in assets under advisement and management as of Sept. 30, 2015. The company has operations in 27 countries. Morningstar, Inc. is not an NRSRO and does not issue NRSRO credit ratings.

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Media Contact:  Michelle Weiss, +1 267-960-6014 or michelle.weiss@morningstar.com

 

SOURCE Morningstar, Inc.



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