NEW YORK, Nov. 14, 2014 /PRNewswire/ -- Morningstar Credit Ratings, LLC today assigned preliminary ratings for certain loan-specific certificates for the commercial mortgage-backed securities (CMBS) transaction J.P. Morgan Chase Commercial Mortgage Securities Trust 2014-FL6, Commercial Mortgage Pass-Through Certificates, Series 2014-FL6 (JPMCC 2014-FL6). The collateral supporting the certain loan-specific certificates for JPMCC 2014-FL6 consists of five floating-rate, interest-only mortgage loans secured by the borrowers' fee simple interest in 11 hotels located in five states along with one student housing property located in North Carolina. The preliminary ratings are based on information known to Morningstar as of Nov. 13, 2014.



    PRELIMINARY RATINGS (AS OF NOV. 13, 2014)
    ----------------------------------------

                                                 Balance/              Preliminary Morningstar Morningstar       Morningstar        Credit Support

                                              Notional Amt.              Ratings       DSCR        BLTV             ELTV                Levels
                                              -------------              -------       ----        ----             ----                ------

    Class
    -----

    Class MTP1                                              $8,200,000      BB-        2.06x               69.3%             69.3%                 22.05%

    Class PHW1                                              $9,400,000      BB-        2.04x               69.8%             69.8%                 11.51%

    Class PHW2                                              $6,100,000       B-        1.81x               78.8%             78.8%                  0.00%

    Class TLAN                                              $2,130,000      BB+        1.71x               69.0%             69.0%                  0.00%

    Class HSRV                                              $4,700,000      BB-        2.13x               69.4%             69.4%                  0.00%

    Class FMS1                                              $4,100,000      BB+        2.37x               58.5%             58.5%                 16.85%

    Class FMS2                                              $3,750,000       B+        1.97x               70.4%             70.4%                  0.00%
    ----------                                              ----------      ---        -----                ----               ----                    ----

For complete details about the preliminary ratings for this transaction, Morningstar's Presale Analysis Package, including the Presale Report and the Representations, Warranties, and Enforcement Mechanisms, is available under the Ratings Reports tab at https://ratingagency.morningstar.com. Information subsequently received could result in the assignment of final ratings that differ from the preliminary ratings.

About Morningstar Credit Ratings, LLC and Morningstar, Inc.
Morningstar Credit Ratings, LLC is a Nationally Recognized Statistical Rating Organization (NRSRO) that specializes in structured credit research and ratings and offers a wide array of services including new-issue ratings and analysis, operational risk assessments, surveillance services, data, and technology solutions.

Morningstar Credit Ratings, LLC is a subsidiary of Morningstar, Inc. (NASDAQ: MORN), a leading provider of independent investment research in North America, Europe, Australia, and Asia.

Morningstar, Inc. offers an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors. Morningstar provides data on approximately 479,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 13 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $169 billion in assets under advisement and management as of Sept. 30, 2014. The company has operations in 27 countries.

Morningstar, Inc. is not an NRSRO, and its credit ratings on corporate issuers are not NRSRO credit ratings.

©2014 Morningstar, Inc. All Rights Reserved.

MORN-R

Media Contact:
Michelle Weiss, +1 267-960-6014 or michelle.weiss@morningstar.com

SOURCE Morningstar, Inc.