Fitch Affirms KeyBank Real Estate Capital’s CMBS Servicer Ratings

Fitch Ratings has affirmed KeyBank Real Estate Capital's (KBREC) commercial mortgage-backed securities (CMBS) servicer ratings as follows:

  • primary servicer rating at CPS1,
  • master servicer rating at CMS1, and
  • special servicer rating at CSS2+.

The rating affirmations reflect KBREC's experienced CMBS servicing management and staff, its strong employee-training program and its continued commitment to technology, Fitch says.

As of June 30, KBREC's commercial mortgage loan servicing portfolio consisted of 11,325 loans totaling $109.3 billion, of which 8,046 loans totaling $77.2 billion were CMBS. Also as of that date, KBREC was named master servicer for 101 CMBS transactions totaling $71.6 billion and oversaw 24 third-party servicers that serviced 888 loans totaling $10.2 billion.

In addition, as of the end of the second quarter, KBREC was named special servicer for 26 CMBS transactions and was actively specially servicing 112 CMBS loans.

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