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TMCNet:  KBRA Releases Report on Tropical Storm Irma and KBRA Rated CMBS Exposure

[September 13, 2017]

KBRA Releases Report on Tropical Storm Irma and KBRA Rated CMBS Exposure

Kroll Bond Rating Agency (KBRA) identified 1,103 loans within its $290 billion universe of rated CMBS that are collateralized by properties in Florida. In total there are 1,569 properties ($17.2 billion allocated loan amount) located in the state, across 234 KBRA rated transactions.

All counties have been declared disaster areas, however, 16 (Broward, Charlotte, Clay, Collier, Duval, Flagler, Hillsborough, Lee, Manatee, Miami-Dade, Monroe, Palm Beach, Pinellas, Putnam, Saint Johns and Sarasota) are approved for direct federal financial assistance to impacted individuals and households. When considering only the 16 counties approved for Individual Assistance by FEMA, there are 912 properties ($11.8 billion allocated loan amount) across 647 loans, or roughly 68.6% of the total state exposure by balance. These properties are securitized in 213 KBRA rated transactions.

To view the report, please click here.

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About Kroll Bond Rating Agency

KBRA is registered with the U.S. Securities and Exchange Commission as a Nationally Recognized Statistical Rating Organization (NRSRO). In addition, KBRA is recognized by the National Association of Insurance Commissioners (NAIC) as a Credit Rating Provider (CRP).


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