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Fitch Withdraws Expected Ratings for REAL-T 2015-2

October 26, 2015 9:24 AM EDT

CHICAGO--(BUSINESS WIRE)-- Fitch Ratings has withdrawn expected ratings for Real Estate Asset Liquidity Trust's (REAL-T) commercial mortgage pass-through certificates, series 2015-2. A full list of rating actions is available at the end of this rating action commentary.

KEY RATING DRIVERS

The ratings have been withdrawn as they are no longer expected to convert to final ratings in the near term. Fitch will also withdraw the presale report for the transaction dated Oct. 13, 2015. Fitch may assign the transaction expected ratings again in the future, following an updated analysis of the portfolio and the proposed structure.

Fitch has withdrawn the following expected ratings:

--$180,162,000 class A-1 'AAAsf(EXP)'; Outlook Stable;

--$146,865,000 class A-2 'AAAsf(EXP)'; Outlook Stable;

--$9,452,000 class B 'AAsf(EXP)'; Outlook Stable;

--$10,869,000 class C 'Asf(EXP)'; Outlook Stable;

--$10,870,000 class D 'BBBsf(EXP)'; Outlook Stable;

--$4,726,000 class E 'BBB-sf(EXP)'; Outlook Stable;

--$3,780,000 class F 'BBsf(EXP)'; Outlook Stable;

--$3,781,000 class G 'Bsf(EXP)'; Outlook Stable.

The $378,066,883 (notional balance) interest-only class X and the $7,561,883 class H certificate were not expected to be rated

Additional information is available on www.fitchratings.com

Additional Disclosures

Solicitation Status

https://www.fitchratings.com/gws/en/disclosure/solicitation?pr_id=992830

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.

Fitch Ratings, Inc.
Primary Analyst
Gregg Katz
Senior Director
+1-312-606-2343
Fitch Ratings, Inc.
70 West Madison Street
Chicago, IL 60602
or
Secondary Analyst
Robert Ritter
Analyst
+1-212-908-0328
or
Committee Chairperson
Robert Vrchota
Managing Director
+1-312-368-3336
or
Media Relations
Sandro Scenga, +1-212-908-0278
[email protected]

Source: Fitch Ratings



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