Mortgage – No antagonistic score affect on six US conduit business mortgage backed securities following the proposed switch of particular servicing rights of CGCMT 2016-GC36
Announcement: Moody’s: No antagonistic score affect on six US conduit business mortgage backed securities following the proposed switch of particular servicing rights of CGCMT 2016-GC36
World Credit score Analysis – 04 Dec 2020
New York, December 04, 2020 — Moody’s Buyers Service (“Moody’s”) introduced right now that the proposed elimination of Wells Fargo Bank, Nationwide Affiliation, because the particular servicer and appointment of Greystone Servicing Firm LLC because the successor particular servicer for Citigroup Industrial Mortgage Belief 2016-GC36 (“CGCMT 2016-GC36”) pursuant to the provisions of the Pooling and Servicing Settlement of Citigroup Industrial Mortgage Belief 2016-GC36 (the “PSA”) by the Controlling Class Consultant underneath the PSA wouldn’t, in and of itself and as of this cut-off date, lead to a discount, placement on assessment for potential downgrade or withdrawal of Moody’s present scores of Citigroup Industrial Mortgage Belief 2016-GC36 (the “Affected Lead Transaction”) and 5 US conduit CMBS transactions beneath that maintain the serviced companion loans (the “Serviced Companion loan Transactions”). The proposed switch will exclude the non-serviced companion loans held by the Affected Lead Transaction.
AFFECTED LEAD TRANSACTION
Citigroup Industrial Mortgage Belief 2016-GC36
SERVICED COMPANION loan TRANSACTIONS
Citigroup Industrial Mortgage Belief 2016-P3
Citigroup Industrial Mortgage Belief 2016-GC37
Citigroup Industrial Mortgage Belief 2016-C1
JPMBB Industrial Mortgage Securities Belief 2016-C1
Citigroup Industrial Mortgage Belief 2016-P4
The methodologies utilized in monitoring the scores are “Method to Ranking US and Canadian Conduit/Fusion CMBS” revealed in September 2020 and “Moody’s Method to Ranking Structured Finance Curiosity-Solely (IO) Securities” revealed in February 2019. Please see the Ranking Methodologies web page on www.moodys.com for a replica of those methodologies.
Moody’s opinion addresses solely the credit score affect related to the proposed switch of particular servicing rights, and Moody’s will not be expressing any opinion as as to whether the proposed switch of particular servicing rights has, or may have, different non-credit associated results that may have detrimental affect on the pursuits of the holders or rated obligations and/or counterparties.
This publication doesn’t announce a credit standing motion. For any credit score scores referenced on this publication, please see the scores tab on the issuer/entity web page on www.moodys.com for probably the most up to date credit standing motion info and score historical past.
Kevin Li Asst Vice President - Analyst Structured Finance Group Moody's Buyers Service, Inc. 250 Greenwich Street New York, NY 10007 U.S.A. JOURNALISTS: 1 212 553 0376 Shopper Service: 1 212 553 1653 Romina Padhi VP - Senior Credit score Officer Structured Finance Group JOURNALISTS: 1 212 553 0376 Shopper Service: 1 212 553 1653 Releasing Workplace: Moody's Buyers Service, Inc. 250 Greenwich Street New York, NY 10007 U.S.A. JOURNALISTS: 1 212 553 0376 Shopper Service: 1 212 553 1653
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