Rating Report

BDS 2020-FL5 Ltd.: Surveillance Performance Update

CMBS

Summary

On October 21, 2021, DBRS Limited (DBRS Morningstar) confirmed its ratings on all classes of notes issued by BDS 2020-FL5 Ltd. with Stable trends. The rating confirmations reflect the overall stable performance of the transaction, which has remained in line with DBRS Morningstar’s expectations.

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