Shelter Growth CRE 2019-FL2 Issuer Ltd: Surveillance Performance Update
On November 24, 2021, DBRS Limited (DBRS Morningstar) upgraded five classes of notes issued by Shelter Growth CRE 2019-FL2 Issuer Ltd (the Issuer) and confirmed the ratings on the remaining two classes. Additionally, DBRS Morningstar discontinued its rating on Class A-S as the class has been repaid in full and changed the trends on Classes B, C, D, E, F, G, and H to Stable from Negative. The rating upgrades and trend changes reflect the significant paydown to the bonds as a result of successful loan repayments and the generally stable performance of the remaining collateral pool.
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Together, we are the world’s fourth largest credit ratings agency and a market leader in Canada, the U.S. and Europe in multiple asset classes. We rate more than 2,600 issuers and 54,000 securities worldwide and are driven to bring more clarity, diversity and responsiveness to the ratings process. Our approach and size provide the agility to respond to customers’ needs, while being large enough to provide the necessary expertise and resources. For more details visit us at dbrs.com.
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