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Fitch Ratings affirms 16 classes of JP Morgan Chase JPMBB 2016-C1.

Chicago: Fitch Ratings, a nationally recognized statistical rating organization (NRSRO) designated by the U.S. Securities and Exchange Commission, affirmed 16 classes of JP Morgan Chase JPMBB 2016-C1 Mortgage Trust commercial mortgage pass-through certificates.

The top 10 loans account for 58.9% of the pool, which is well above the 2015 and 2014 vintage averages of 49.3% and 50.5%, respectively. The largest property type is office (36.5%), followed by hotel (20.9%), and multifamily (16.0%). The pool's office concentration is above the 2014 vintage average of 22.8% and the 2015 vintage average of 23.5%. The pool's hotel concentration is higher than the 2014 vintage concentration of 14.2% and the 2015 vintage average of 17.0%.

The affirmations are the result of stable performance since issuance. All the loans in the pool continue to perform with property level performance generally in line with issuance expectations. The original rating analysis was considered in affirming the transaction as there have been no material changes to pool metrics. As of the December 2017 distribution date, the pool's aggregate balance has been reduced by 0.64% to $1.02 billion.

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Publication:Daily the Pak Banker (Lahore, Pakistan)
Date:Mar 21, 2018
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