KBRA Releases Research – KBRA CMBS Loss Compendium Update: June 2024
July 09 2024 - 12:16PM
Business Wire
KBRA releases the June 2024 issue of the KBRA CMBS Loss
Compendium, which provides loss estimates for all KBRA-rated
conduit transactions. In this report and its accompanying
spreadsheet, KBRA provides insight into loss estimates for 343
outstanding transactions and includes lifetime realized losses for
eight conduits with withdrawn ratings owing to payoffs.
The compendium uses the following two metrics to present the
loss figures: KBRA Lifetime Base Loss (KLBL), which represents our
loss estimate for each transaction during its lifetime as a
percentage of its original balance; and KBRA Future Base Loss
(KFBL), which represents potential future losses as a percentage of
outstanding deal balance as of the most recent rating action
date.
As of June 2024, the average KLBL (as a % of original deal
balance) is 5% (ranging from 1.7% to 17.7%), which increased for
the second consecutive period, from the December 2023 and June 2023
figures of 4.8% and 4.7%, respectively. The average KFBL (as a % of
review date deal balance) is 8.4% (ranging from 2.7% to 81.8%),
which witnessed the highest period-over-period increase, up from
6.8% in December 2023 and 6.3% in June 2023.
Click here to view the report.
Related Publications
- KBRA CMBS Compendium: June 2024 Spreadsheet
- CMBS Loan Performance Trends: June 2024
- CMBS Trend Watch: June 2024
- KBRA CMBS Loss Compendium Update: December 2023
- KBRA CMBS Loss Compendium Update: June 2023
About KBRA
KBRA is a full-service credit rating agency registered in the
U.S., the EU, and the UK, and is designated to provide structured
finance ratings in Canada. KBRA’s ratings can be used by investors
for regulatory capital purposes in multiple jurisdictions.
Doc ID: 1005035
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Neel Munot, Director +1 646-731-1215 neel.munot@kbra.com
Roy Chun, Senior Managing Director +1 646-731-2376
roy.chun@kbra.com
Nitin Bhasin, Senior Managing Director, Global Head of CMBS +1
646-731-2334 nitin.bhasin@kbra.com
Business Development
Daniel Stallone, Managing Director +1 646-731-1308
daniel.stallone@kbra.com