KBRA Releases European CMBS Rating Methodology

DUBLIN–(BUSINESS WIRE)–Kroll Bond Rating Agency Europe Limited (KBRA) is pleased to release its
methodology for rating securities backed by European commercial
mortgages. The European CMBS Methodology addresses KBRA’s approach to
rating mortgage securitisations consisting of commercial real estate
collateral originated in European countries.

The publication outlines several determinants used in formulating KBRA
ratings, which include the following: (i) KBRA property analysis; (ii)
Determination of KBRA Net Cash Flow (KNCF) and KBRA Value; (iii)
Evaluation of loan-level ratable proceeds, including the KBRA Tranching
Template and adjustments to account for property and loan
characteristics; (iv) Assessment of the securitisation framework from a
structural and legal perspective; and (v) Ongoing surveillance of the
transaction.

For more details, please click here.

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About KBRA and KBRA Europe

KBRA is a full service credit rating agency registered with the U.S.
Securities and Exchange Commission as an NRSRO. In addition, KBRA is
designated as a designated rating organization by the Ontario Securities
Commission for issuers of asset-backed securities to file a short form
prospectus or shelf prospectus, is recognized by the National
Association of Insurance Commissioners as a Credit Rating Provider, and
is a certified Credit Rating Agency (CRA) by the European Securities and
Markets Authority (ESMA). Kroll Bond Rating Agency Europe Limited is
registered with ESMA as a CRA.

Contacts

Analytical:
Matthew Horner,
Director, CMBS
Dublin
+353 1 669 2677
mhorner@kbra.com
or
Stephen
Kemmy, Director, RMBS
Dublin
+353 1 669 2678
skemmy@kbra.com
or
Nitin
Bhasin, CFA, Senior Managing Director, CMBS & CRE CLO
New York
+1
(646) 731-2334
nbhasin@kbra.com
or
Yee
Cent Wong, Senior Managing Director, CMBS
New York
+1 (646)
731-2374
ywong@kbra.com

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