BX Trust 2019-IMC Certificates Assigned Ratings

  • BX Trust 2019-IMC's issuance is a CMBS transaction backed by 16 showroom properties in High Point, N.C. and Las Vegas, Nev., comprising 9.6 million sq. ft.
  • We assigned ratings to the class A, X-CP, X-NCP, B, C, and D certificates.
  • The ratings reflect our view of the transaction's structure, the collateral's historical and projected performance, and the trustee-provided liquidity, among other factors.
SAN FRANCISCO (S&P Global Ratings) May 17, 2019--S&P Global Ratings today 
assigned ratings to BX Trust 2019-IMC's commercial mortgage pass-through 
certificates series 2019-IMC (see list).

The note issuance is a commercial mortgage-backed securities (CMBS) 
transaction backed by 16 showroom properties comprising 9.6 million sq. ft. 
Thirteen of the properties, accounting for 5.2 million sq. ft., are located in 
High Point N.C. Three properties, accounting for 4.3 million sq. ft., are 
located in Las Vegas, Nev.

The ratings reflect our view of the collateral's historical and projected 
performance, the sponsor's and manager's experience, the trustee-provided 
liquidity, the loan's terms, and the transaction's structure.
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