Morningstar Credit Ratings, LLC Affirms 'MOR CS2' Commercial Mortgage Special Servicer Ranking and 'MOR TA3' Commercial Mortgage Trust Advisor Ranking for Freddie Mac

Nov 24, 2015, 10:01 ET from Morningstar, Inc.

NEW YORK, Nov. 24, 2015 /PRNewswire/ -- Morningstar Credit Ratings, LLC today affirmed its 'MOR CS2' commercial mortgage special servicer ranking and its 'MOR TA3' commercial mortgage trust advisor ranking for Freddie Mac Multifamily Asset Management and Operations. Morningstar's forecast for both rankings remains Stable.

Morningstar affirmed its special servicer ranking based on Freddie Mac's well-experienced staff and sufficient operating capacity, excellent recovery results with multifamily assets, effective technology platform and continuing progress to consolidate legacy applications, well-defined asset-resolution practices, acceptable internal audit regimen, and sound conflict-of-interest management. The affirmed trust advisor ranking reflects Freddie Mac's well-established track record as a diligent overseer of servicers and special servicers, including its comprehensive operational reviews of seller/servicers to monitor adherence to the company's strict loan-administration and asset-management standards, and its strong knowledge base and familiarity with the duties and reporting requirements of servicers and special servicers in commercial mortgage-backed securitizations.

Freddie Mac is the named special servicer on its 2012 KP-01, 2015 KP-02, and FREMF 2015-KVAD transactions and is the named trust advisor on the Impact Funding 2014-1, Impact Funding 2015-2, and FREMF 2015-KPLB securitizations. As of June 30, 2015, Freddie Mac's active special-servicing portfolio consisted of 27 loans with an unpaid principal balance of approximately $262.7 million.

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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.

Morningstar rankings, forecasts, and assessments contained in this press release are not assessments of the creditworthiness of an obligor or a security and thus are not credit ratings subject to NRSRO regulations. 

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