Morningstar Credit Ratings Assigns Preliminary Ratings for Citigroup Commercial Mortgage Trust 2015-SHP2, Commercial Mortgage Pass-Through Certificates, Series 2015-SHP2 (CGCMT 2015-SHP2)

Jul 17, 2015, 12:49 ET from Morningstar, Inc.

NEW YORK, July 17, 2015 /PRNewswire/ -- Morningstar Credit Ratings, LLC today assigned preliminary ratings for the commercial mortgage-backed securities (CMBS) transaction Citigroup Commercial Mortgage Trust 2015-SHP2, Commercial Mortgage Pass-Through Certificates, Series 2015-SHP2 (CGCMT 2015-SHP2). The collateral supporting CGCMT 2015-SHP2 consists of a single floating-rate, interest-only mortgage loan secured by the borrower's fee simple interests in 22 hotel properties. The preliminary ratings are based on information known to Morningstar as of July 16, 2015.

Preliminary Ratings (as of July 16, 2015)





Class

Balance/Notional Amt. ($)

Morningstar Preliminary Rating

Credit Support Level (%)

Class A

89,545,000

AAA

58.35

Class X-CP

46,545,000

AAA

N/A

Class B

18,455,000

AA-

49.77

Class C

13,000,000

A-

43.72

Class D

21,000,000

BBB

33.95

Class E

38,000,000

BB

16.28

Class F

35,000,000

B-

0.00

Class X-NCP

46,545,000

NR

N/A





NR - Not Rated

Morningstar's Presale Analysis Package, including the Presale Report, Asset Summary Reports, Loan Analysis Summary Table, 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.



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