BX Trust 2017-IMC $955.0 Million Certificates Assigned Preliminary Ratings

Stocks and Financial Services Press Releases Wednesday October 11, 2017 08:50
NEW YORK--11 Oct--S&P Global Ratings
OVERVIEW
  • BX Trust 2017-IMC's issuance is a CMBS transaction backed by one two-year, floating-rate commercial mortgage loan totaling $955 million, with three one-year extension options, secured by the fee and leasehold interests in 18 showroom properties, 15 of which are located in High Point, N.C. and three in Las Vegas.
  • We assigned our preliminary ratings to the class A, X-CP, X-NCP, B, C, D, E, and F certificates.
  • The preliminary ratings reflect our view of the collateral's historical and projected performance, the sponsor's and manager's experience, the trustee-provided liquidity, the loan's terms, and the transaction's structure.
NEW YORK (S&P Global Ratings) Oct. 10, 2017--S&P Global Ratings today assigned its preliminary ratings to BX Trust 2017-IMC's $955.0 million commercial mortgage pass-through certificates (see list).

The note issuance is a commercial mortgage-backed securities transaction backed by one two-year, floating-rate commercial mortgage loan totaling $955 million, with three one-year extension options, secured by the fee and leasehold interests in 18 showroom properties, 15 of which are located in High Point, N.C. and three in Las Vegas.

The preliminary ratings are based on information as of Oct. 10, 2017. Subsequent information may result in the assignment of final ratings that differ from the preliminary ratings.

The preliminary ratings reflect our view of the collateral's historical and projected performance, the sponsor's and manager's experience, the trustee-provided liquidity, the loan's terms, and the transaction's structure.


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