Morningstar Credit Ratings, LLC today assigned preliminary ratings to the commercial mortgage-backed securities (CMBS) transaction Wells Fargo Commercial Mortgage Trust 2015-C31, Commercial Mortgage Pass-Through Certificates, Series 2015-C31 (WFCM 2015-C31). The collateral supporting WFCM 2015-C31 consists of 102 mortgage loans secured by 118 commercial real estate properties. The preliminary ratings are based on information known to Morningstar as of Oct. 20, 2015.
Preliminary Ratings
Class Balance/Notional Amt.
($) Morningstar Preliminary Rating Credit Support Level (%)
Offered Certificates
Class A-1 38,222,000 AAA 30.000
Class A-2 20,290,000 AAA 30.000
Class A-3 200,000,000 AAA 30.000
Class A-4 366,122,000 AAA 30.000
Class A-SB 67,302,000 AAA 30.000
Class A-S 49,425,000 AAA 25.000
Class X-A 741,361,000 AAA N/A
Class X-B 60,544,000 AAA N/A
Class X-D 56,838,000 AAA N/A
Class B 60,544,000 AA 18.875
Class C 46,953,000 A- 14.125
Class PEX 156,922,000 A- 14.125
Class D 56,838,000 BBB 8.375
Non-Offered Certificates
Class A-4FL 366,122,000 AAA N/A
Class A-4FX 0 AAA N/A
Class E 24,712,000 BB- 5.875
Class F 11,120,000 B 4.750
Class G 46,953,380 NR 0.000