DBRS Limited (DBRS Morningstar) confirmed the ratings of the Commercial Mortgage Pass-Through Certificates, Series 2017-BNK5 issued by BANK 2017-BNK5 as follows.

Class A-1 at AAA (sf)

Class A-2 at AAA (sf)

Class A-3 at AAA (sf)

Class A-4 at AAA (sf)

Class A-5 at AAA (sf)

Class A-S at AAA (sf)

Class A-SB at AAA (sf)

Class X-A at AAA (sf)

Class B at AA (high) (sf)

Class X-B at AA (sf)

Class C at AA (low) (sf)

Class X-D at A (low) (sf)

Class D at BBB (high) (sf)

Class E at BB (high) (sf)

Class F at BB (low) (sf)

Class G at B (low) (sf)

All trends are Stable.

Class G was removed from Under Review with Negative Implications where it was placed on August 6, 2020.

As of the December 2020 remittance, all 87 original loans remain in the pool. Two loans, representing 0.5% of the current pool balance, are fully defeased. Additionally, 17 loans, representing 21.8% of the current trust balance, are on the servicer's watchlist. These loans are generally being monitored for a low debt service coverage ratio (DSCR) and occupancy issues that have generally been driven by disruptions related to the Coronavirus Disease (COVID-19) pandemic.

Eight of the loans on the watchlist (4.4% of the pool) are secured by co-op properties, while the other nine (17.4% of the pool) are secured by non-co-op properties, including six loans backed by five limited-service hotels (14.2% of the pool), two by retail properties (1.8% of the pool), and one by a multifamily property (1.4% of the pool). Three of the loans backed by hospitality properties have been flagged for COVID-19 relief requests, with those borrowers typically seeking temporary payment relief. Although the need for relief, as well as the pandemic-related stress on hospitality properties across the country that is undoubtedly affecting the collateral hotels in this pool, is generally indicative of increased risks from issuance, the mitigating factors in the historically strong performance of the underlying hotels and the lack of delinquency were noted as stabilizing factors for this review. DBRS Morningstar will continue to monitor those loans for developments.

At issuance, four loans, representing 18.6% of the current pool balance, were shadow-rated investment grade. These loans include Del Amo Fashion Center (Prospectus ID #1; 7.5% of the pool); Olympic Tower (Prospectus ID #5; 4.6% of the pool); Gateway Net Lease Portfolio (Prospectus ID #9; 3.7% of the pool); and Stor-It Southern California Portfolio (Prospectus ID #11; 2.8% of the pool). With this review, DBRS Morningstar confirms that the performance of these loans remains consistent with investment-grade loan characteristics.

Although the overall performance of the pool has remained stable from issuance, DBRS Morningstar continues to monitor the performance of the underlying collateral, much of which has been affected by the pandemic. DBRS Morningstar notes that the pool has a moderate concentration of hospitality properties, representing 14.4% of the pool. Hospitality properties have been the most severely affected by the initial impact of the coronavirus pandemic. The pool is also concentrated in loans secured by retail properties, which represent 34.2% of the current pool balance. Much like hospitality properties, retail properties have been among the most significantly affected by the pandemic and those loans are being monitored closely as well.

The largest loan in the pool, Del Amo Fashion Center (Prospectus ID#1; 7.5% of the pool), is secured by the borrower's fee interest in 1.8 million square feet (sf) of a 2.5 million-sf super-regional mall located outside Los Angeles in Torrance, California. The mall was subject to a $423.0 million renovation finished in May 2018 that expanded the north (higher end retail), south (value segment), and lifestyle wings of the mall. In July 2020, the non-collateral Sears was closed, leaving anchors in JCPenney, Macy's, and Nordstrom. DBRS Morningstar notes the low going-in loan-to-value ratio of 39.8% along with stable occupancy since issuance as mitigating factors for the additional challenges to regional malls amid the coronavirus pandemic. The loan is shadow-rated investment grade and has continued to display very strong credit metrics since issuance, showing a YE2019 DSCR of 4.15 times.

A description of how DBRS Morningstar considers ESG factors within the DBRS Morningstar analytical framework and its methodologies can be found at: https://www.dbrsmorningstar.com/research/357792.

Classes X-A, X-B, and X-D are interest-only (IO) certificates that reference 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-Del Amo Fashion Center (7.5% of the pool)

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 U.S. dollars unless otherwise noted.

The principal methodology is North American CMBS Surveillance Methodology (March 6, 2020), which can be found on dbrsmorningstar.com under Methodologies & Criteria. For a list of the structured-finance-related methodologies that may be used during the rating process, please see the DBRS Morningstar Global Structured Finance Related Methodologies document, which can be found on dbrsmorningstar.com in the Commentary tab under Regulatory Affairs. Please note that not every related methodology listed under a principal structured finance asset class methodology may be used to rate or monitor an individual structured finance or debt obligation.

For more information regarding rating methodologies and Coronavirus Disease (COVID-19), please see the following DBRS Morningstar press release: https://www.dbrsmorningstar.com/research/357883.

For more information regarding structured finance rating methodologies and Coronavirus Disease (COVID-19), please see the following DBRS Morningstar press release: https://www.dbrsmorningstar.com/research/358308.

For more information regarding the structured finance rating approach and Coronavirus Disease (COVID-19), please see the following DBRS Morningstar press release: https://www.dbrsmorningstar.com/research/359905.

The related regulatory disclosures pursuant to the National Instrument 25-101 Designated Rating Organizations are hereby incorporated by reference and can be found by clicking on the link under Related Documents or by contacting us at info@dbrsmorningstar.com.

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. Please note a sensitivity analysis is not performed for CMBS bonds rated CCC or lower. The DBRS Morningstar long-term rating scale definition indicates that ratings of CCC or lower are assigned when the bond is highly likely to default or default is imminent, thereby prevailing over a sensitivity analysis.

For more information on this credit or on this industry, visit www.dbrsmorningstar.com or contact us at info@dbrsmorningstar.com.

DBRS Limited

DBRS Tower, 181 University Avenue, Suite 700

Toronto, ON M5H 3M7 Canada

Tel. +1 416 593-5577

Ratings

Date Issued	Debt Rated	Action	Rating	Trend	Attributes

i

US = Lead Analyst based in USA

CA = Lead Analyst based in Canada

EU = Lead Analyst based in EU

UK = Lead Analyst based in UK

E = EU endorsed

U = UK endorsed

Unsolicited Participating With Access

Unsolicited Participating Without Access

Unsolicited Non-participating

21-Dec-20	Commercial Mortgage Pass Through Certificates, Series 2017-BNK5, Class A-1	Confirmed	AAA (sf)	Stb	CA
21-Dec-20	Commercial Mortgage Pass Through Certificates, Series 2017-BNK5, Class A-2	Confirmed	AAA (sf)	Stb	CA
21-Dec-20	Commercial Mortgage Pass Through Certificates, Series 2017-BNK5, Class A-3	Confirmed	AAA (sf)	Stb	CA
21-Dec-20	Commercial Mortgage Pass Through Certificates, Series 2017-BNK5, Class A-4	Confirmed	AAA (sf)	Stb	CA
21-Dec-20	Commercial Mortgage Pass Through Certificates, Series 2017-BNK5, Class A-5	Confirmed	AAA (sf)	Stb	CA
21-Dec-20	Commercial Mortgage Pass Through Certificates, Series 2017-BNK5, Class A-S	Confirmed	AAA (sf)	Stb	CA
21-Dec-20	Commercial Mortgage Pass Through Certificates, Series 2017-BNK5, Class A-SB	Confirmed	AAA (sf)	Stb	CA
21-Dec-20	Commercial Mortgage Pass Through Certificates, Series 2017-BNK5, Class X-A	Confirmed	AAA (sf)	Stb	CA
21-Dec-20	Commercial Mortgage Pass Through Certificates, Series 2017-BNK5, Class B	Confirmed	AA (high) (sf)	Stb	CA
21-Dec-20	Commercial Mortgage Pass Through Certificates, Series 2017-BNK5, Class X-B	Confirmed	AA (sf)	Stb	CA
21-Dec-20	Commercial Mortgage Pass Through Certificates, Series 2017-BNK5, Class C	Confirmed	AA (low) (sf)	Stb	CA
21-Dec-20	Commercial Mortgage Pass Through Certificates, Series 2017-BNK5, Class X-D	Confirmed	A (low) (sf)	Stb	CA
21-Dec-20	Commercial Mortgage Pass Through Certificates, Series 2017-BNK5, Class D	Confirmed	BBB (high) (sf)	Stb	CA
21-Dec-20	Commercial Mortgage Pass Through Certificates, Series 2017-BNK5, Class E	Confirmed	BB (high) (sf)	Stb	CA
21-Dec-20	Commercial Mortgage Pass Through Certificates, Series 2017-BNK5, Class F	Confirmed	BB (low) (sf)	Stb	CA
21-Dec-20	Commercial Mortgage Pass Through Certificates, Series 2017-BNK5, Class G	Confirmed	B (low) (sf)	--	CA

ALL DBRS RATINGS ARE SUBJECT TO DISCLAIMERS AND CERTAIN LIMITATIONS. PLEASE READ THESE DISCLAIMERS AND LIMITATIONS AND ADDITIONAL INFORMATION REGARDING DBRS RATINGS, INCLUDING DEFINITIONS, POLICIES, RATING SCALES AND METHODOLOGIES.

(C) 2020 Electronic News Publishing, source ENP Newswire