Morningstar Credit Ratings Assigns Preliminary Ratings for CFCRE 2015-RUM Commercial Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2015-RUM (CFCRE 2015-RUM)

Jul 16, 2015, 16:32 ET from Morningstar, Inc.

NEW YORK, July 16, 2015 /PRNewswire/ -- Morningstar Credit Ratings, LLC today assigned preliminary ratings for the commercial mortgage-backed securities (CMBS) transaction CFCRE 2015-RUM Commercial Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2015-RUM (CFCRE 2015-RUM). The collateral supporting CFCRE 2015-RUM consists of a single floating-rate, interest-only mortgage loan secured by the borrower's leasehold interest in The Ritz-Carlton, Grand Cayman in the Cayman Islands. The preliminary ratings are based on information known to Morningstar as of July 15, 2015.

Preliminary Ratings (as of July 15, 2015)


Class

Balance/Notional Amt. ($)

Morningstar Preliminary Rating

Credit Support Level (%)





Class A

52,718,000

AAA

62.344

Class X-CP

140,000,000

AAA

N/A

Class X-EXT

140,000,000

AAA

N/A

Class B

32,812,000

AA-

38.907

Class C

15,970,000

A-

27.500

Class D

25,404,000

BBB-

9.354

Class E

13,096,000

BB

0.000





Morningstar's preliminary ratings for the CMBS transaction do not address the sovereign, currency, or tax risk arising from the location of the loan collateral in the Cayman Islands.

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) that specializes in structured credit research and ratings and offers 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 approximately 500,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 15 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 and had more than $179 billion in assets under advisement and management as of March 31, 2015. The company has operations in 27 countries.

Morningstar, Inc. is not an NRSRO, and its credit ratings on corporate issuers are not NRSRO credit ratings.

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

 

SOURCE Morningstar, Inc.