Goldman Sachs is marketing $1 billion of commercial mortgage bonds with heavy exposure to retail properties in secondary and tertiary markets, according to Kroll Bond Rating Agency.

Kroll has given preliminary ratings to the sixteen classes of certificates to be issued by GSMS 2015-GC32. There are six class A senior tranches totaling $772.4 million that are rated ‘AAA’ by Kroll and benefit from 30% credit enhancement. The class B, C, D, E, F, and J notes benefit from 17%, 12.75%, 7,625%, 5.625%, 4.625%, and 2.875% credit enhancement, respectively.

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