Bear Stearns Commercial Mortgage Securities Trust 2007-PWR15 Class A-MFX Assigned #B- (sf)# Rating

Stocks and Financial Services Press Releases Wednesday February 25, 2015 08:39
NEW YORK--25 Feb--Standard & Poor's

NEW YORK (Standard & Poor's) Feb. 24, 2015--Standard & Poor's Ratings Services today assigned its 'B- (sf)' rating to the $11.3 million class A-MFX commercial mortgage pass-through certificates from Bear Stearns Commercial Mortgage Securities Trust 2007-PWR15, a U.S. commercial mortgage-backed securities (CMBS) transaction. We assigned our 'B- (sf)' rating to the class A-MFX certificates following their issuance in connection with the interest rate swap contract's partial termination applicable to $11.3 million of the $125.0 million class A-MFL certificates. Standard & Poor's rates the class A-MFL certificates 'B- (sf)'. Interest rate swap contracts support the floating-rate interest payments due on class A-MFL. The class A-MFL certificates will have a $113.7 million outstanding principal balance remaining. Any principal and interest payments and losses on the class A-MFL and A-MFX certificates will be pari passu.

STANDARD & POOR'S 17G-7 DISCLOSURE REPORT SEC Rule 17g-7 requires an NRSRO, for any report accompanying a credit rating relating to an asset-backed security as defined in the Rule, to include a description of the representations, warranties, and enforcement mechanisms available to investors and a description of how they differ from the representations, warranties, and enforcement mechanisms in issuances of similar securities. The Rule applies to in-scope securities initially rated (including preliminary ratings) on or after Sept. 26, 2011. If applicable, the Standard and Poor's 17g-7 Disclosure Report included in this credit rating report is available at http://standardandpoorsdisclosure-17g7.com


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