May 8, 2021
Business News

KBRA Assigns Ratings to BXMT 2021-FL4


NEW YORK–()–Kroll Bond Rating Agency (KBRA) is pleased to announce the assignment of ratings to 11 classes of BXMT 2021-FL4, a $950.0 million CRE CLO. The transaction includes a 180-day ramp-up period as well as the ability to acquire and sell (rebalancing provision) loan participations related to the transaction collateral. Additionally, the transaction includes a feature that provides the sponsor with the ability to effectuate significant modifications to performing loans. The rebalancing provision, which has not been present in prior KBRA rated CRE CLO transactions, allows the holder of the preferred shares to buy one or more collateral interests out of the trust at par to facilitate the satisfaction of the…



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