DRBS has assigned provisional ratings to the DBUBS Series 2001-LC2 Commercial Pass-Through Certificates, which will be issued by DBUBS 2011-LC2 Mortgage Trust.
DBRS rated seven tranches of notes from classes A-1 through X-B, 'AAA (sf)', while class B was rated 'AA (sf)'. The ratings firm also assigned ratings of 'A (sf)' to class C, 'BBB(sf)' to class D, 'BB(sf)' to class E, 'B (sf)' to classes F and FX.
The collateral is 67 fixed-rate loans secured by 132 commercial, mobile home parks and multifamily properties, with an overall portfolio balance of roughly $2.14 billion. According to the DRBS report, the pool itself is made up of relatively low-leverage financing .
