Fitch Ratings Affirms Protective Life’s CMBS Servicer Ratings

Ratings has affirmed Protective Life Insurance Co.'s commercial mortgage-backed securities (CMBS) servicer ratings as follows: *Primary servicer rating at CPS3+, *Master servicer rating at CMS3, and *Special servicer rating at CSS3+. The primary servicer rating reflects the company's demonstrated ability to service loans in CMBS transactions. The master servicer rating is based on the company's ability to monitor correspondents, the experienced asset management staff and the financial strength of Protective Life Corp. The special servicer rating considers Protective Life's ability to manage and work out nonperforming commercial real estate loans. As of March 31, Protective Life's total primary, master and special servicing portfolio contained 1,860 loans with an outstanding principal balance of $4.9 billion, of which 311 loans totaling $991.8 million was CMBS. As of the same date, Protective Life was actively specially servicing three CMBS loans totaling $24.4 million. SOURCE: [link=]Fitch Ratings


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