Eight Ratings On DBWF 2015-LCM Mortgage Trust Affirmed

OVERVIEW We affirmed our ratings on eight classes from DBWF 2015-LCM Mortgage Trust, a U.S. CMBS transaction. The affirmations reflect our analysis of the collateral's credit characteristics and performance, as well as the transaction's structure and the liquidity available to the trust. CENTENNIAL (S&P Global Ratings) Jan. 5, 2018--S&P Global Ratings today affirmed its ratings on eight classes of commercial mortgage pass-through certificates from DBWF 2015-LCM Mortgage Trust , a U.S. commercial mortgage-backed securities (CMBS) transaction (see list). For the affirmations, our expectation of credit enhancement was in line with the affirmed rating levels. We affirmed our rating on the class X-A interest-only (IO) certificates based on our criteria for rating IO securities, in which the ratings on the IO

...OVERVIEW We affirmed our ratings on eight classes from DBWF 2015-LCM Mortgage Trust, a + U.S. CMBS transaction. The affirmations reflect our analysis of the collateral's credit characteristics + and performance, as well as the transaction's structure and the liquidity available to the trust. CENTENNIAL (S&P Global Ratings) Jan. 5, 2018--S&P Global Ratings today affirmed its ratings on eight classes of commercial mortgage pass-through certificates from DBWF 2015-LCM Mortgage Trust, a U.S. commercial mortgage-backed securities (CMBS) transaction (see list). For the affirmations, our expectation of credit enhancement was in line with the affirmed rating levels. We affirmed our rating on the class X-A interest-only (IO) certificates based on our criteria for rating IO securities, in which the ratings on the IO securities would not be higher than that of the lowest-rated reference class. Class X-A's notional balance references class A-1. This is a stand-alone (single borrower) transaction backed...

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