Class A-2 at
Class A-3 at
Class A-4 at
Class A-SB at
Class A-S at
Class X-A at
Class X-B at AA (high) (sf)
Class B at AA (sf)
Class C at A (low) (sf)
Class X-D at BBB (sf)
Class D at BBB (low) (sf)
Class X-E at BB (high) (sf)
Class E at BB (sf)
Class X-F at BB (low) (sf)
Class F at B (high) (sf)
Class X-G at B (sf)
Class G at B (low) (sf)
All trends are Stable.
The confirmations reflect the overall stable performance of the transaction since the last rating action. At issuance, the trust comprised 58 fixed-rate loans secured by 75 commercial and multifamily properties with an original balance of
There are three loans in special servicing (4.8% of the current pool balance). The largest loan in special servicing,
There are 16 loans (32.5% of the current pool balance) on the servicer's watchlist. These loans are being monitored for a variety of reasons, including debt coverage and performance declines as a result of ongoing difficulties caused by the Coronavirus Disease (COVID-19) pandemic.
The largest loan on the servicer's watchlist,
While not on the servicer's watchlist, DBRS Morningstar is monitoring the pool's largest loan,
At issuance, an investment-grade shadow rating was assigned to two loans in Prospectus ID#5,
A description of how DBRS Morningstar considers ESG factors within the DBRS Morningstar analytical framework can be found in the DBRS Morningstar Criteria: Approach to Environmental, Social, and Governance Risk Factors in Credit Ratings at https://www.dbrsmorningstar.com/research/373262.
Classes X-A, X-B, X-D, X-E, X-F, and X-G are interest-only (IO) certificate that references a single rated tranche or multiple rated tranches. The IO rating mirrors the lowest-rated applicable reference obligation tranche adjusted upward by one notch if senior in the waterfall.
All ratings are subject to surveillance, which could result in ratings being upgraded, downgraded, placed under review, confirmed, or discontinued by DBRS Morningstar.
DBRS Morningstar provides updated analysis and in-depth commentary in the DBRS Viewpoint platform for the following loans in the transaction:
Prospectus ID#1 -
Prospectus ID#3 - 100 Denny Way (6.9% of the pool)
Prospectus ID#9 -
For complimentary access to this content, please register for the DBRS Viewpoint platform at www.viewpoint.dbrsmorningstar.com. The platform includes issuer and servicer data for most outstanding CMBS transactions (including non-DBRS Morningstar rated), as well as loan-level and transaction-level commentary for most DBRS Morningstar-rated and -monitored transactions.
Notes:
All figures are in
The principal methodology is the North American CMBS Surveillance Methodology (
The DBRS
The rated entity or its related entities did participate in the rating process for this rating action. DBRS Morningstar had access to the accounts and other relevant internal documents of the rated entity or its related entities in connection with this rating action.
Please see the related appendix for additional information regarding the sensitivity of assumptions used in the rating process.
For more information on this credit or on this industry, visit www.dbrsmorningstar.com or contact us at info@dbrsmorningstar.com.
Tel. +1 212 806-3277
Ratings
Date Issued Debt Rated Action Rating Trend Attributesi
US = Lead Analyst based in USA
CA = Lead Analyst based in
EU = Lead Analyst based in EU
E = EU endorsed
U =
Unsolicited Participating With Access
Unsolicited Participating Without Access
Unsolicited Non-participating
26-Jan-22 Commercial Mortgage Pass-Through Certificates, Series 2017-C1, Class A-2 ConfirmedAAA (sf) Stb US
26-Jan-22 Commercial Mortgage Pass-Through Certificates, Series 2017-C1, Class A-3 ConfirmedAAA (sf) Stb US
26-Jan-22 Commercial Mortgage Pass-Through Certificates, Series 2017-C1, Class A-4 ConfirmedAAA (sf) Stb US
26-Jan-22 Commercial Mortgage Pass-Through Certificates, Series 2017-C1, Class A-S ConfirmedAAA (sf) Stb US
26-Jan-22 Commercial Mortgage Pass-Through Certificates, Series 2017-C1, Class A-SB ConfirmedAAA (sf) Stb US
26-Jan-22 Commercial Mortgage Pass-Through Certificates, Series 2017-C1, Class X-A ConfirmedAAA (sf) Stb US
26-Jan-22 Commercial Mortgage Pass-Through Certificates, Series 2017-C1, Class X-B Confirmed AA (high) (sf) Stb US
26-Jan-22 Commercial Mortgage Pass-Through Certificates, Series 2017-C1, Class B Confirmed AA (sf) Stb US
26-Jan-22 Commercial Mortgage Pass-Through Certificates, Series 2017-C1, ClassC Confirmed A (low) (sf) Stb US
26-Jan-22 Commercial Mortgage Pass-Through Certificates, Series 2017-C1, Class X-D Confirmed BBB (sf) Stb US
26-Jan-22 Commercial Mortgage Pass-Through Certificates, Series 2017-C1, Class D Confirmed BBB (low) (sf) Stb US
26-Jan-22 Commercial Mortgage Pass-Through Certificates, Series 2017-C1, Class X-E Confirmed BB (high) (sf) Stb US
26-Jan-22 Commercial Mortgage Pass-Through Certificates, Series 2017-C1, Class E Confirmed BB (sf) Stb US
26-Jan-22 Commercial Mortgage Pass-Through Certificates, Series 2017-C1, Class X-F Confirmed BB (low) (sf) Stb US
26-Jan-22 Commercial Mortgage Pass-Through Certificates, Series 2017-C1, ClassF Confirmed B (high) (sf) Stb US
26-Jan-22 Commercial Mortgage Pass-Through Certificates, Series 2017-C1, Class X-G Confirmed B (sf) Stb US
26-Jan-22 Commercial Mortgage Pass-Through Certificates, Series 2017-C1, ClassG Confirmed B (low) (sf) Stb US
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