DBRS, Inc. (DBRS Morningstar) confirmed its ratings on the Commercial Mortgage Pass-Through Certificates, Series 2015-CCRE24 issued by COMM 2015-CCRE24 Mortgage Trust as follows.

Class A-4 at AAA (sf)

Class A-5 at AAA (sf)

Class A-SB at AAA (sf)

Class A-M at AAA (sf)

Class X-A at AAA (sf)

Class B at AA (low) (sf)

Class X-B at A (sf)

Class C at A (low) (sf)

Class X-C at BBB (sf)

Class D at BBB (low) (sf)

Class X-D at BB (high) (sf)

Class E at BB (sf)

Class F at B (high) (sf)

Class X-E at B (sf)

Class G at B (low) (sf)

DBRS Morningstar also discontinued its rating on Class A-3 after the class fully repaid with the March 2020 remittance report.

DBRS Morningstar assigned Negative trends to Classes D, E, F, G, X-C, X-D, and X-E because of the increased risk from various loans secured by hospitality and retail properties. In addition, the Palazzo Verdi loan (Prospectus ID#4 - 5.7% of Pool Balance) exhibited increased risk since issuance after losing a primary tenant in October 2020. All other classes have Stable trends.

At issuance, the trust consisted of 81 fixed-rate loans secured by 128 commercial and multifamily properties with a total trust balance of $1.39 billion. Per the October 2020 remittance report, there were 78 loans secured by 125 commercial and multifamily properties remaining in the trust with a total trust balance of $1.28 billion, representing a 7.9% collateral reduction since issuance. Four loans, representing 1.5% of the pool balance, are defeased. The pool composition is relatively granular as the 10 largest loans represent only 51.8% of the trust balance. The remaining collateral has outperformed issuer underwritten cash flows as the most recently reported preceding year weighted-average (WA) debt service coverage ratio (DSCR) was 1.84 times (x), up from the issuer's WA DSCR of 1.74x derived at issuance. The trust's loan maturity risk is low in the near term as there are only two loans, representing 1.4% of the pool balance, that have loan maturity dates prior to December 2024.

The pool is geographically concentrated as 13 loans, representing 26.2% of the pool balance, are secured by properties in California. The pool is also concentrated by property type as there are 23 loans, representing 22.5% of the pool, secured by retail properties and 10 loans, representing 20.5% of the pool, secured by hospitality properties. Retail and hospitality properties have been particularly affected by the Coronavirus Disease (COVID-19) pandemic as these property types have experienced acute interruptions to operations resulting from mandated restrictions and lockdowns. Approximately 46.8% of the loans secured by retail and hospitality properties by loan balance are performing and are not on the servicer's watchlist.

Per the October 2020 remittance, there are three loans, consisting of 5.0% of the pool balance, that are in special servicing. The Westin Portland loan (Prospectus ID#8 - 4.2% of the pool balance) is secured by a 19-story, full-service, luxury, 205-key hotel in the central business district of Portland, Oregon. The hotel has been closed since March 2020 because of the coronavirus pandemic as travel restrictions were implemented by various governments. The loan transferred to the special servicer in June 2020 as a result of payment default as the last loan payment occurred in March 2020. Because of the Oregon Moratorium, the special servicer has been limited with enforcement options at this time. Counsel has been engaged and negotiations with the borrower continue. It should be noted the hotel's performance has been subpar since 2016 as there has been a significant number of new hospitality properties delivered to the submarket since issuance and the sponsor converted the hotel into the Dossier boutique brand from the Westin flag in 2018. The loan's probability of default was significantly increased for the subject review as the collateral has not performed since 2016 and there is no indication when the hotel will be able to reopen to full capacity.

An additional 15 loans, consisting of 26.8% of the pool balance, are on the servicer's watchlist, which are primarily due to cash flow declines or coronavirus-related relief. The watchlist loan of most concern is the Palazzo Verdi (Prospectus ID#4 - 5.7% of the pool balance), which is a 15-story, Class A office property in Greenwood Village, Colorado. The loan was added to the servicer's watchlist in November 2017 because the primary tenant, Newmont Mining (59.8% of net rentable area), provided notice to vacate upon its lease expiration in October 2020. The property's occupancy rate is projected to decrease to 36.9% following the loss of Newmont Mining. An August 2020 Reis report showed the submarket's average vacancy rate is high at 18.1% and there will be a considerable amount of new supply delivered in the near term with 1.4 million sf by 2022. The high vacancy rate and new competitive stock create headwinds for the collateral, especially during the coronavirus pandemic when office users are reconsidering office demand. The probability of default was also appropriately enhanced for the subject review.

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.

DBRS Morningstar materially deviated from its principal methodology when determining the rating assigned to Class B as the quantitative results suggested a lower rating. The material deviations is warranted given the uncertain loan level event risk with the Westin Portland loan. The increased expected loss for the loan increased the model credit enhancement results for the transaction, which resulted the material deviation. DBRS Morningstar is monitoring the workout process of the loan as the special servicer continues to evaluate remedies.

Classes X-A, X-B, X-C, X-D, and X-E 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 - Lakewood Center (7.6% of the pool)

Prospectus ID#2 - Eden Roc (7.4% of the pool)

Prospectus ID#4 - Palazzo Verdi (5.7% of the pool) - DBRS Morningstar Hotlist

Prospectus ID#5 - Equinox West LA (5.2% of the pool) - DBRS Morningstar Hotlist

Prospectus ID#6 - Two Chatham Center & Garage (4.4% of the pool)

Prospectus ID#8 - Westin Portland (4.2% of the pool)

Prospectus ID#12 - Embassy Suites Denver Tech Center (2.3% 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, 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 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.

Generally, the conditions that lead to the assignment of a Negative or Positive trend are generally resolved within a 12-month period. DBRS Morningstar's outlooks and ratings are monitored.

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

DBRS, Inc.

333 West Wacker Drive, Suite 1800

Chicago, IL 60606 USA

Tel. +1 312 696-6293

Ratings

Date Issued	Debt Rated	Action	Rating	Trend	Issued

i

US = USA Issued, NRSRO

CA = Canada Issued, NRSRO

EU = EU Issued, NRSRO

E = EU endorsed

Unsolicited Participating With Access

Unsolicited Participating Without Access

Unsolicited Non-Participating

16-Nov-20	Commercial Mortgage Pass-Through Certificates, Series 2015-CCRE24, Class A-4	Confirmed	AAA (sf)	Stb	US
16-Nov-20	Commercial Mortgage Pass-Through Certificates, Series 2015-CCRE24, Class A-5	Confirmed	AAA (sf)	Stb	US
16-Nov-20	Commercial Mortgage Pass-Through Certificates, Series 2015-CCRE24, Class A-M	Confirmed	AAA (sf)	Stb	US
16-Nov-20	Commercial Mortgage Pass-Through Certificates, Series 2015-CCRE24, Class A-SB	Confirmed	AAA (sf)	Stb	US
16-Nov-20	Commercial Mortgage Pass-Through Certificates, Series 2015-CCRE24, Class X-A	Confirmed	AAA (sf)	Stb	US
16-Nov-20	Commercial Mortgage Pass-Through Certificates, Series 2015-CCRE24, Class B	Confirmed	AA (low) (sf)	Stb	US
16-Nov-20	Commercial Mortgage Pass-Through Certificates, Series 2015-CCRE24, Class X-B	Confirmed	A (sf)	Stb	US
16-Nov-20	Commercial Mortgage Pass-Through Certificates, Series 2015-CCRE24, Class C	Confirmed	A (low) (sf)	Stb	US
16-Nov-20	Commercial Mortgage Pass-Through Certificates, Series 2015-CCRE24, Class X-C	Trend Change	BBB (sf)	Neg	US
16-Nov-20	Commercial Mortgage Pass-Through Certificates, Series 2015-CCRE24, Class D	Trend Change	BBB (low) (sf)	Neg	US
16-Nov-20	Commercial Mortgage Pass-Through Certificates, Series 2015-CCRE24, Class X-D	Trend Change	BB (high) (sf)	Neg	US
16-Nov-20	Commercial Mortgage Pass-Through Certificates, Series 2015-CCRE24, Class E	Trend Change	BB (sf)	Neg	US
16-Nov-20	Commercial Mortgage Pass-Through Certificates, Series 2015-CCRE24, Class F	Trend Change	B (high) (sf)	Neg	US
16-Nov-20	Commercial Mortgage Pass-Through Certificates, Series 2015-CCRE24, Class X-E	Trend Change	B (sf)	Neg	US
16-Nov-20	Commercial Mortgage Pass-Through Certificates, Series 2015-CCRE24, Class G	Trend Change	B (low) (sf)	Neg	US
16-Nov-20	Commercial Mortgage Pass-Through Certificates, Series 2015-CCRE24, Class A-3	Disc.-Repaid	Discontinued	--	US

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.

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