Fitch Affirms Morgan Stanley & Co. LLC Re-Remic Trust 2011-IO

NEW YORK--(BUSINESS WIRE)-- Fitch Ratings has affirmed Morgan Stanley & Co. LLC Re-REMIC Trust 2011-IO, commercial mortgage pass-through certificates. A detailed list of rating actions follows at the end of this press release.

KEY RATING DRIVERS

The affirmations are based on the performance of the bonds relative to Fitch's 'AAA' and 'BBB' stressed cash flow projections. Actual aggregate cash flows for the underlying transactions have exceeded Fitch's 'AAA' and 'BBB' stressed cash flow projections at issuance.

RATING SENSITIVITIES

Ratings are expected to remain stable as cash flow from the underlying transactions is exceeding Fitch's stressed projections leading to a quicker paydown of the bonds.

The class C certificate is a principal-only certificate and is not entitled to receive any distributions of interest. Class C is expected to pay down in the near term.

All classes are privately placed pursuant to rule 144A of the Securities Act of 1933. The certificates represent beneficial ownership interest in the trust, primary assets of which are allocations of 162 U.S. commercial mortgage backed security (CMBS) interest-only certificates, from 147 underlying transactions.

DUE DILIGENCE USAGE

No third-party due diligence was provided or reviewed in relation to this rating action.

Fitch has affirmed the following rating:

--$20,148,516 class C at 'BBBsf'; Outlook Stable.

Classes A, A-A, A-B, B, B-A, and B-B have paid in full. Class R is not rated.

Additional information is available at www.fitchratings.com.

Applicable Criteria

Global Structured Finance Rating Criteria (pub. 06 Jul 2015)

https://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=867952

Additional Disclosures

Dodd-Frank Rating Information Disclosure Form

https://www.fitchratings.com/creditdesk/press_releases/content/ridf_frame.cfm?pr_id=1000031

Solicitation Status

https://www.fitchratings.com/gws/en/disclosure/solicitation?pr_id=1000031

Endorsement Policy

https://www.fitchratings.com/jsp/creditdesk/PolicyRegulation.faces?context=2&detail=31

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.

View source version on businesswire.com: http://www.businesswire.com/news/home/20160225006485/en/

Fitch Ratings
Darren Liss
Director
+1-212-908-0753
Fitch Ratings, Inc.
33 Whitehall St
New York, NY 10004
or
Committee Chairperson
Brook Sutherland
Senior Director
+1-312-606-2346
or
Media Relations:
Sandro Scenga, +1-212-908-0278
[email protected]

Source: Fitch Ratings

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Morgan Stanley Downgrades Circle Internet Group (CRCL) to Underweight
• Integer Holdings Corporation Reports Second Quarter 2026 Results
• American Bitcoin Reports Second Quarter 2026 Results