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Wells Fargo Commercial Mortgage Trust 2016-C37 -- Moody's affirms eight classes of WFCM 2016-C37

The ratings on the 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 4.5% of the current pooled balance, compared to 4.6% at Moody's last review. Moody's base expected loss plus realized losses is now 4.4% of the original pooled balance, compared to 4.5% at the last review.