Rating Report
BDS 2020-FL5 Ltd.: Surveillance Performance Update
CMBSSummary
DBRS Limited (DBRS Morningstar) upgraded its ratings on six classes of notes issued by BDS 2020-FL5 Ltd. Additionally, all trends are Stable. The rating upgrades reflect the increased credit support to the bonds as a result of successful loan repayments as well as the continued stable performance of the remaining collateral in the transaction.
In addition, DBRS Morningstar confirmed the remaining classes.
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Contacts
Timothy Burke
Vice President - North American CMBS Ratings, Surveillance
+(1) 416 597 7537
timothy.burke@morningstar.com- Stephen Koehler
Vice President - North American CMBS Ratings, Surveillance
+(1) 312 332 9441
stephen.koehler@morningstar.com - Gloria Au
Vice President, Sector Lead - North American CMBS Ratings, Surveillance
+(1) 416 597 7450
gloria.au@morningstar.com - Gwen Roush
Associate Managing Director - North American CMBS Ratings, Surveillance
+(1) 312 332 9575
gwen.roush@morningstar.com