KBRA Publishes Report on CMBS Exposure to Hurricane Harvey Affected Counties

NEW YORK--(BUSINESS WIRE)-- On August 30, 2017 Tropical Storm Harvey made landfall for the second time near the Louisiana-Texas border and continues to pose significant risk to an already rain saturated area. The storm originally made landfall in the U.S. as a Category 4 hurricane on August 26^th through the Gulf coast of Texas. As of August 29^th, 58 counties had been declared disaster areas by the state of Texas and five by the state of Louisiana. The Federal Emergency Management Agency (FEMA) had also placed 24 of those counties under a disaster declaration.

Kroll Bond Rating Agency (KBRA) leveraged its KBRA Credit Profile Portal (KCP) to identify 878 properties across 766 loans ($9.4 billion) in 205 KBRA rated deals with exposure to the disaster declared counties. Although the extent of the damage is unknown, KBRA will continue to monitor information published by loan servicers as well as local and national news outlets for updates.

To read the report, please click here.

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About Kroll Bond Rating Agency

KBRA is registered with the U.S. Securities and Exchange Commission as a Nationally Recognized Statistical Rating Organization (NRSRO). In addition, KBRA is recognized by the National Association of Insurance Commissioners (NAIC) as a Credit Rating Provider (CRP).

View source version on businesswire.com: http://www.businesswire.com/news/home/20170830006027/en/

Analytical:

Kroll Bond Rating Agency

Lisa Spaziano, 215-882-5872

Director

[email protected]

or

Bill Petersen, 215-882-5861

Senior Director

[email protected]

Source: Kroll Bond Rating Agency