DBRS Morningstar Affirms All Natixis Commercial Mortgage Securities Trust 2018-ALXA Ratings
Class A to
Class B to AA (sf)
Class C to A (high) (sf)
Class D to BBB (high) (sf)
Class E to BB (high) (sf)
All trends are stable. The rating confirmations reflect the overall stable performance of this transaction, which is in line with DBRS Morningstar expectations.
The loan is secured by Center 425 Bellevue, a 356,909 square foot (sf), Class A, LEED Silver-certified downtown office building
The loan is sponsored by
A description of how DBRS Morningstar considers ESG factors in the DBRS Morningstar analytical framework is available in DBRS Morningstar Criteria: Approach to Environmental, Social, and Governance Risk Factors in Credit Ratings at https://www.dbrsmorningstar.com/research/373262.
All ratings are subject to monitoring, which could result in ratings being upgraded, downgraded, revised, confirmed or discontinued by DBRS Morningstar.
DBRS Morningstar provides updated analysis and in-depth commentary on the DBRS Viewpoint platform for this transaction.
The DBRS Viewpoint platform provides additional information about this transaction and the underlying loans, including DBRS Morningstar metrics, commentary, servicing agent reported cash flow, and other performance-related data.
For free access to this content, please register with the DBRS Viewpoint platform at www.viewpoint.dbrsmorningstar.com.
All figures are in
The main methodology is the North American CMBS Surveillance Methodology (
The rated entity or its related entities participated in the rating process for this rating metric. DBRS Morningstar had access to the accounts and other relevant internal documents of the rated entity or its related entities in connection with this rating action.
Please see the relevant appendix for more information on the sensitivity of the assumptions used in the rating process.
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Date Issued Debt Rated Action Rating Trend Attributesi
US = Lead Analyst based in the USA
CA = Lead Analyst based in
Unsolicited participation with access
Unsolicited participation without access
Unsolicited Non Participating
25-Apr-22Commercial Mortgage Pass-Through Certificates, Series 2018-ALXA, Class A Confirmed AAA(sf) Stb US
25-Apr-22Commercial Mortgage Pass-Through Certificates, Series 2018-ALXA, Class B Confirmed AA (sf) Stb US
25-Apr-22Commercial Mortgage Pass-Through Certificates, Series 2018-ALXA, Class C ConfirmedA (high) (sf) Stb US
25-Apr-22Commercial Mortgage Pass-Through Certificates, Series 2018-ALXA, Class D Confirmed BBB (high) (sf) Stb US
25-Apr-22Commercial Mortgage Pass-Through Certificates, Series 2018-ALXA, Class E Confirmed BB (high) (sf) Stb US