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Morgan Stanley Bank of America Merrill Lynch Trust 2015-C21 -- Moody's affirms nine classes of MSBAM 2015-C21

The ratings of seven 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 5.3% of the current pooled balance, compared to 5.0% at Moody's last review. Moody's base expected loss plus realized losses is now 5.1% of the original pooled balance, compared to 4.9% at the last review.