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Fitch Ratings assigns ratings to Benchmark 2018-B1.

New York: Fitch Ratings, a nationally recognized statistical rating organization (NRSRO) designated by the U.S. Securities and Exchange Commission, assigned the following ratings and Rating Outlooks to Benchmark 2018-B1 Mortgage Trust commercial mortgage pass-through certificates series 2018-B1.

Since Fitch published its expected ratings on Jan. 16, 2018, class A-4 decreased in size from $175,000,000 to $135,000,000, and class A-5 increased in size from $347,112,000 to $387,112,000. The classes above reflect the final ratings and deal structure.

The certificates represent the beneficial ownership interest in the trust, primary assets of which are 49 loans secured by 173 commercial properties having an aggregate principal balance of $1,166,378,009 as of the cut-off date. The loans were contributed to the trust by German American Capital Corporation, JPMorgan Chase Bank, National Association, and Citi Real Estate Funding Inc.

Fitch reviewed a comprehensive sample of the transaction's collateral, including site inspections on 74.8% of the properties by balance, cash flow analysis of 89.9%, and asset summary reviews of 100.0% of the pool.

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Publication:Daily the Pak Banker (Lahore, Pakistan)
Date:Apr 20, 2018
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