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KBRA Releases Research – KBRA CMBS Loss Compendium Update: December 2023

Retrieved on:

Thursday, January 4, 2024

Professional Services, Finance, KLBL, KBRA, Cryptocurrency

KBRA releases the December 2023 issue of the KBRA CMBS Loss Compendium, which provides loss estimates for all KBRA-rated conduit transactions.

Key Points:

KBRA releases the December 2023 issue of the KBRA CMBS Loss Compendium, which provides loss estimates for all KBRA-rated conduit transactions.
In this report and its accompanying spreadsheet, KBRA provides insight into loss estimates for 330 outstanding KBRA-rated conduit transactions, as well as lifetime realized losses for the six KBRA-rated conduit transactions that have no ratings outstanding because of deal payoffs.
The compendium uses the following two metrics to present the loss figures: KBRA Lifetime Base Loss (KLBL), which represents our loss estimate for each transaction during its lifetime as a percentage of its original balance; and KBRA Future Base Loss (KFBL), which represents potential future losses as a percentage of outstanding deal balance as of the most recent rating action date.
The average KFBL (as a % of review date deal balance) is 6.8% (ranging from 2.7% to 81.8%), which increased from 6.3% in June 2023 and 6% in December 2022.

KBRA Releases Research - KBRA CMBS Loss Compendium Update: June 2023

Retrieved on:

Tuesday, July 11, 2023

Banking, Professional Services, Finance, KBRA, KLBL, LTV, KLTV

KBRA releases the June 2023 issue of the KBRA CMBS Loss Compendium, which provides loss estimates for all KBRA-rated conduit transactions.

Key Points:

KBRA releases the June 2023 issue of the KBRA CMBS Loss Compendium, which provides loss estimates for all KBRA-rated conduit transactions.
In this report and its accompanying spreadsheet, KBRA provides insight into loss estimates for 317 outstanding KBRA-rated conduit transactions, as well as lifetime realized losses for the five KBRA-rated conduit transactions that have no ratings outstanding because of deal payoffs.
The compendium uses the following two metrics to present the loss figures: KBRA Lifetime Base Loss (KLBL), which represents our loss estimate for each transaction during its lifetime as a percentage of its original balance; and KBRA Future Base Loss (KFBL), which represents potential future losses as a percentage of outstanding deal balance as of the most recent rating action date.
The highlights of this edition are as follows:
Transactions from the 2014 and 2015 vintages continued to have higher-than-average KLBLs, which is not surprising given that they have among the highest issuance KBRA loan-to-values (KLTV) and appraisal LTVs.

KBRA Releases Research – CMBS Loss Compendium Update: December 2022

Retrieved on:

Friday, January 6, 2023

Banking, Professional Services, Finance, KLBL, KBRA

KBRA releases the December 2022 issue of the KBRA CMBS Loss Compendium, which provides base loss estimates for all KBRA-rated conduit transactions.

Key Points:

KBRA releases the December 2022 issue of the KBRA CMBS Loss Compendium, which provides base loss estimates for all KBRA-rated conduit transactions.
In this report and its accompanying spreadsheet, we provide insight into loss estimates for 308 outstanding KBRA-rated conduit transactions, of which 158 have been reviewed since the June 2022 edition of this publication.
The compendium uses the following two metrics to present the loss figures: KBRA Lifetime Base Loss (KLBL), which represents our loss estimate for each transaction during its lifetime as a percent of its original balance; and KBRA Future Base Loss (KFBL), which represents potential future losses as a percent of outstanding deal balance as of the most recent rating action date.
As of December 2022, the average KLBL and average KFBL is 4.8% and 6%, respectively, compared to 5% and 5.5% in June 2022, and 5.1% and 5.6% in December 2021.

KBRA Releases Research – CMBS Loss Compendium Update: June 2022

Retrieved on:

Tuesday, July 12, 2022

Banking, Professional Services, Insurance, Finance, KLBL, KBRA

KBRA releases the June 2022 issue of the KBRA CMBS Loss Compendium, which provides base loss estimates for all KBRA-rated conduit transactions.

Key Points:

KBRA releases the June 2022 issue of the KBRA CMBS Loss Compendium, which provides base loss estimates for all KBRA-rated conduit transactions.
In this report and its accompanying spreadsheet, we provide insight into loss estimates for 302 outstanding KBRA-rated conduit transactions, of which 134 have been reviewed since the December 2021 edition of this publication.
The compendium uses the following two metrics to present the loss figures: KBRA Lifetime Base Loss (KLBL), which represents our loss estimate for each transaction during its lifetime as a percent of its original balance; and KBRA Future Base Loss (KFBL), which represents potential future losses as a percent of outstanding deal balance as of the most recent rating action date.
As of June 2022, the average KLBL and average KFBL is 5% and 5.5%, respectively, compared to 5.1% and 5.6% in December 2021, and 5% and 5.4% in June 2021.

DEKRA realigns Supervisory and Management Boards

Retrieved on:

Friday, April 8, 2022

STUTTGART, Germany, April 8, 2022 /PRNewswire/ -- At their regular meetings on April 6, 2022, the DEKRA e.V. Presidential Board and DEKRA SE Supervisory Board decided with immediate effect to undertake a future-facing realignment of the expert organization's Management and Supervisory Boards. The previous Chairman of the Management Board, Stefan Kölbl, will now chair the top-level supervisory bodies of DEKRA e.V. and DEKRA SE. This puts a proven industry expert with more than 25 years of experience in testing, inspection, and certification (TIC) in charge of the supervisory committees. As the new Chairman of the DEKRA e.V. Management Board and Chief Executive Officer (CEO) of DEKRA SE, Stan Zurkiewicz will now be tasked with operational management of the Group. The incoming CEO was the organization's Asia chief for many years, and his last role was as Chief Operating Officer (COO). The Chairman of the Presidential and Supervisory Boards, Thomas Pleines, is stepping aside from his duties after many years of successful service to DEKRA.

Key Points:

's highest supervisory body and assumes leadership of DEKRA SE Supervisory Board
Stan Zurkiewicz, 42, appointed Chairman of the Management Board of DEKRA e.V.
Presidential Board and DEKRA SE Supervisory Board decided with immediate effect to undertake a future-facing realignment of the expert organization's Management and Supervisory Boards.
The previous Chairman of the Management Board, Stefan Klbl, will now chair the top-level supervisory bodies of DEKRA e.V.
Management Board and Chief Executive Officer (CEO) of DEKRA SE, Stan Zurkiewicz will now be tasked with operational management of the Group.

DEKRA realigns Supervisory and Management Boards

Retrieved on:

Friday, April 8, 2022

STUTTGART, Germany, April 8, 2022 /PRNewswire/ -- At their regular meetings on April 6, 2022, the DEKRA e.V. Presidential Board and DEKRA SE Supervisory Board decided with immediate effect to undertake a future-facing realignment of the expert organization's Management and Supervisory Boards. The previous Chairman of the Management Board, Stefan Kölbl, will now chair the top-level supervisory bodies of DEKRA e.V. and DEKRA SE. This puts a proven industry expert with more than 25 years of experience in testing, inspection, and certification (TIC) in charge of the supervisory committees. As the new Chairman of the DEKRA e.V. Management Board and Chief Executive Officer (CEO) of DEKRA SE, Stan Zurkiewicz will now be tasked with operational management of the Group. The incoming CEO was the organization's Asia chief for many years, and his last role was as Chief Operating Officer (COO). The Chairman of the Presidential and Supervisory Boards, Thomas Pleines, is stepping aside from his duties after many years of successful service to DEKRA.

Key Points:

's highest supervisory body and assumes leadership of DEKRA SE Supervisory Board
Stan Zurkiewicz, 42, appointed Chairman of the Management Board of DEKRA e.V.
Presidential Board and DEKRA SE Supervisory Board decided with immediate effect to undertake a future-facing realignment of the expert organization's Management and Supervisory Boards.
The previous Chairman of the Management Board, Stefan Klbl, will now chair the top-level supervisory bodies of DEKRA e.V.
Management Board and Chief Executive Officer (CEO) of DEKRA SE, Stan Zurkiewicz will now be tasked with operational management of the Group.

KBRA Releases Research – CMBS Loss Compendium Update: December 2021

Retrieved on:

Tuesday, January 18, 2022

Professional Services, Finance, Population, KBRA, KLBL, Risk management

KBRA releases the December 2021 issue of the KBRA CMBS Loss Compendium, which provides base loss estimates for all KBRA-rated conduit transactions.

Key Points:

KBRA releases the December 2021 issue of the KBRA CMBS Loss Compendium, which provides base loss estimates for all KBRA-rated conduit transactions.
In this report and its accompanying spreadsheet, we provide insight into loss estimates for all 292 KBRA-rated conduit transactions, of which 149 have been reviewed since the June 2021 edition of this publication.
The compendium uses the following two metrics to present the loss figures: KBRA Lifetime Base Loss (KLBL), which represents our loss estimate for each transaction during its lifetime as a percent of its original balance; and KBRA Future Base Loss (KFBL), which represents potential future losses as a percent of outstanding deal balance as of the most recent rating action date.
As of December 2021, the average KLBL and average KFBL for the entire population are 5.1% and 5.6%, respectively, which increased from 5% and 5.4%, in June 2021; and from 4.5% and 4.9%, in December 2020.