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Citigroup Commercial Mortgage Trust 2014-GC21 -- Moody's affirms nine classes of CGCMT 2014-GC21

The ratings on the principal and interest (P&I) classes were affirmed because the transaction's key metrics, including Moody's loan-to-value (LTV) ratio, Moody's stressed debt service coverage ratio (DSCR) and the transaction's Herfindahl Index (Herf), are within acceptable ranges. Moody's rating action reflects a base expected loss of 6.4% of the current pooled balance, compared to 4.4% at Moody's last review. Moody's base expected loss plus realized losses is now 5.0% of the original pooled balance, compared to 4.3% at the last review.