NEW YORK?(BUSINESS WIRE)?
Fitch Ratings has rated Freddie Mac FREMF 2012-K17 multifamily mortgage pass-through certificates and Freddie Mac structured Pass-Through Certificates, Series K-017.
Fitch rated the transactions and assigned Rating Outlooks as follows:
FREMF 2012-K17 Multifamily Mortgage Pass-Through Certificates
?$158.7 million class A-1 ?AAAsf?; Outlook Stable ;
?$926 million class A-2 ?AAAsf?; Outlook Stable;
?$1,084.7 million* class X1 ?AAAsf?; Outlook Stable;
?$1,084.7 million* class X2-A ?AAAsf?; Outlook Stable;
?$92.2 million class B ?A-sf?; Outlook Stable.
Freddie Mac Structured Pass-Through Certificates, Series K-017
?$158.7 million class A-1 ?AAAsf?; Outlook Stable;
?$926 million class A-2 ?AAAsf?; Outlook Stable;
?$1,084.7 million* class X1 ?AAAsf?; Outlook Stable;
*Notional amount and interest only.
Fitch does not rate the $187.7 million interest-only class X3, the $187.7 million interest-only class X2-B, or the $95.4 million class C of the FREMF 2012-K17 Multifamily Mortgage Pass-Through Certificates.
Fitch does not rate the corresponding $187.7 million interest-only class X3 of the Freddie Mac Structured Pass-Through Certificates, Series K-017.
The certificates represent the beneficial interests in a pool of 72 commercial mortgages secured by 76 properties. The Freddie Mac Structured Pass-Through Certificates, Series K-017 (Freddie Mac SPC K-017) represents a pass-through interest in the corresponding class of securities issued by FREMF 2012-K17. Each Freddie Mac SPC K-017 security has the same designation as its underlying FREMF 2012-K17 class. All loans were originated by various seller/servicers according to the guidelines of the Freddie Mac Capital Markets Execution (CME) product. The certificates follow a sequential-pay structure.
The Master Servicer and Special Servicer will be KeyCorp Real Estate Capital Markets, Inc. and Wells Fargo Bank, N.A., rated ?CMS1? and ?CSS2-?, respectively, by Fitch.
The new issue report is available at ? www.fitchratings.com .?
Additional information is available at ? www.fitchratings.com ?. The ratings above were solicited by, or on behalf of, the issuer, and therefore, Fitch has been compensated for the provision of the ratings.
Applicable Criteria and Related Research:
?Criteria for Analyzing Multiborrower U.S. Commercial Mortgage Transactions?, Aug. 12, 2011;
?Global Structured Finance Rating Criteria?, Aug. 4, 2011;
?Structured Finance Tranche Thickness Metrics?, July 29, 2011;
?Criteria for Special-Purpose Vehicles in Structured Finance Transactions?, June 13, 2011;
?U.S. Commercial Mortgage Servicer Rating Criteria?, Feb. 18, 2011;
?Surveillance Methodology for U.S. Fixed-Rate CMBS Transactions?, Nov. 17, 2011.
Applicable Criteria and Related Research:
Surveillance Methodology for U.S. Fixed-Rate CMBS Transactions
U.S. Commercial Mortgage Servicer Rating Criteria
Criteria for Special-Purpose Vehicles in Structured Finance Transactions
Structured Finance Tranche Thickness Metrics
Global Structured Finance Rating Criteria
Criteria for Analyzing Multiborrower U.S. Commercial Mortgage Transactions
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Tags: Structured
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