Morningstar Credit Ratings Assigns Preliminary Ratings to Wells Fargo Commercial Mortgage Trust 2015-C31, Commercial Mortgage Pass-Through Certificates, Series 2015-C31

New York - 20 October 2015

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

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