Citigroup Commercial Mortgage Trust 2017-P8's issuance is a CMBS transaction backed by 53 commercial mortgage loans with an aggregate principal balance of $1.087 billion


  • Citigroup Commercial Mortgage Trust 2017-P8's issuance is a CMBS transaction backed by 53 commercial mortgage loans with an aggregate principal balance of $1.087 billion ($917.9 million of offered certificates), secured by the fee and leasehold interests in 167 properties across 32 states.
  • We assigned our ratings to the class A-1 through F, X-A, X-B, X-D through X-F, V-2A through V-2D, V-3AC, and V-3D certificates.
  • The ratings reflect the credit support provided by the transaction structure, our view of the underlying collateral's economics, the trustee-provided liquidity, the collateral pool's relative diversity, and our overall qualitative assessment of the transaction.
The certificate issuance is a commercial mortgage-backed securities (CMBS) 
transaction backed by 53 commercial mortgage loans with an aggregate principal 
balance of $1.087 billion ($917.9 million of offered certificates), secured by 
the fee and leasehold interests in 167 properties across 32 states.

The ratings reflect the credit support provided by the transaction structure, 
our view of the underlying collateral's economics, the trustee-provided 
liquidity, the collateral pool's relative diversity, and our overall 
qualitative assessment of the transaction. 

Since preliminary ratings were issued, the X-C certificate class has been 
removed from the transaction. Additionally, a portion of the non-offered 
vertical risk retention will be rated, as represented by the V-2A through 
V-2D, V-3AC, and V-3D certificates.