Morningstar Credit Ratings Assigns Preliminary Ratings for Morgan Stanley Bank of America Merrill Lynch Trust 2015-C24, Commercial Mortgage Pass-Through Certificates, Series 2015-C24 (MSBAM 2015-C24)

Jul 15, 2015, 15:52 ET from Morningstar, Inc.

NEW YORK, July 15, 2015 /PRNewswire/ -- Morningstar Credit Ratings, LLC today assigned preliminary ratings for the commercial mortgage-backed securities (CMBS) transaction Morgan Stanley Bank of America Merrill Lynch Trust 2015-C24, Commercial Mortgage Pass-Through Certificates, Series 2015-C24 (MSBAM 2015-C24). The collateral supporting MSBAM 2015-C24 consists of 74 mortgage loans secured by 130 commercial real estate properties. 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 (%)

Offered Certificates



Class A-1

34,200,000

AAA

30.000

Class A-2

17,000,000

AAA

30.000

Class A-SB

63,600,000

AAA

30.000

Class A-3

200,000,000

AAA

30.000

Class A-4

339,992,000

AAA

30.000

Class X-A

654,792,000

AAA

N/A

Class A-S

54,955,000

AAA

24.125

Class B

58,464,000

AA-

17.875

Class C

40,925,000

A-

13.500





Non-Offered Certificates



Class X-B

54,955,000

AAA

N/A

Class D

47,940,000

BBB

8.375

Class E

28,062,000

BB-

5.375

Class F

17,539,000

B-

3.500

Class G

32,740,433

NR

0.000





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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