| Previous Close | N/A |
| YTD Return | N/A |
| Expense Ratio (net) | N/A |
| Category | N/A |
| Last Cap Gain | N/A |
| Morningstar Rating | N/A |
| Morningstar Risk Rating | N/A |
| Sustainability Rating | N/A |
| Net Assets | N/A |
| Beta (5Y Monthly) | N/A |
| Yield | N/A |
| 5y Average Return | N/A |
| Holdings Turnover | N/A |
| Last Dividend | N/A |
| Average for Category | N/A |
| Inception Date | N/A |
Moody's Investors Service, ("Moody's") has downgraded the ratings of CBL & Associates Limited Partnership ("CBL"), including the senior unsecured debt rating to Caa3 from Caa1, the corporate family rating to Caa1 from B2 and the speculative grade liquidity rating to SGL-4 from SGL-3. The rating downgrade reflects Moody's expectation that the secured financing available for CBL's less productive malls has weakened materially, limiting the alternative liquidity provided by CBL's remaining low quality unencumbered asset pool. The current more challenging operating environment facing mall REITs also suggests an increasing probability of a distressed debt exchange for a weak mall REIT such as CBL when its unsecured debt requires refinancing beginning in 2023.
Moody's rating action reflects a base expected loss of 11.1% of the current pooled balance, compared to 7.0% at Moody's last review. Please see www.moodys.com for any updates on changes to the lead rating analyst and to the Moody's legal entity that has issued the rating.
Moody's Investors Service, ("Moody's") downgraded all of Washington Prime Group Inc. (WPG)'s ratings, including the ratings of its operating subsidiary, Washington Prime Group, L.P.'s senior unsecured debt to B1 from Ba2.
Moody's Investors Service ("Moody's") has downgraded the ratings of CBL & Associates Limited Partnership ("CBL"), including the senior unsecured debt rating to Caa1 from B1 and the corporate family rating to B2 from Ba3.
Moody's rating action reflects a base expected loss of 2.2% of the current pooled balance, compared to 0.8% at Moody's last review. Please see www.moodys.com for any updates on changes to the lead rating analyst and to the Moody's legal entity that has issued the rating.
Moody's rating action reflects a base expected loss of 69.5% of the current pooled balance, compared to 46.5% at Moody's last review. For provisional ratings, this announcement provides certain regulatory disclosures in relation to the provisional rating assigned, and in relation to a definitive rating that may be assigned subsequent to the final issuance of the debt, in each case where the transaction structure and terms have not changed prior to the assignment of the definitive rating in a manner that would have affected the rating.
Moody's rating action reflects a base expected loss of 4.2% of the current pooled balance, compared to 4.4% at Moody's last review. The property was previously anchored by Good Cents Grocery (23% of net rentable area (NRA)) who vacated in December 2016.
The ratings on two principal and interest (P&I) classes, Cl. B and Cl. C, were upgraded primarily due to an increase in credit support resulting from loan paydowns and amortization, as well as an increase in defeasance. Moody's rating action reflects a base expected loss of 3.3% of the current pooled balance, compared to 2.8% at Moody's last review.
Rating Action: Moody's affirms seven and downgrades two classes of WFCM 2010- C1. Global Credit Research- 15 Jul 2019. Approximately $568.7 million of structured securities affected.
The ratings on six 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 3.4% of the current pooled balance, compared to 3.2% at Moody's last review. Moody's base expected loss plus realized losses is now 3.1% of the original pooled balance, the same as at the last review.
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of CBL & Associates Limited Partnership and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.
Rating Action: Moody's affirms twelve classes of JPMBB 2013- C14. Global Credit Research- 10 May 2019. Approximately $787 million of structured securities affected.