NEW YORK, July 17, 2015 /PRNewswire/ -- Morningstar Credit Ratings, LLC today assigned preliminary ratings for the commercial mortgage-backed securities (CMBS) transaction Citigroup Commercial Mortgage Trust 2015-SHP2, Commercial Mortgage Pass-Through Certificates, Series 2015-SHP2 (CGCMT 2015-SHP2). The collateral supporting CGCMT 2015-SHP2 consists of a single floating-rate, interest-only mortgage loan secured by the borrower's fee simple interests in 22 hotel properties. The preliminary ratings are based on information known to Morningstar as of July 16, 2015.



    Preliminary Ratings (as of July 16, 2015)


    Class                                     Balance/Notional Amt. ($) Morningstar Preliminary Rating  Credit Support Level (%)
    -----                                     ------------------------- ------------------------------   -----------------------

    Class A                                                  89,545,000                             AAA                     58.35

    Class X-CP                                               46,545,000                             AAA                       N/A

    Class B                                                  18,455,000                             AA-                     49.77

    Class C                                                  13,000,000                              A-                     43.72

    Class D                                                  21,000,000                             BBB                     33.95

    Class E                                                  38,000,000                              BB                     16.28

    Class F                                                  35,000,000                              B-                      0.00

    Class X-NCP                                              46,545,000                              NR                       N/A


    NR - Not Rated

Morningstar's Presale Analysis Package, including the Presale Report, Asset Summary Reports, Loan Analysis Summary Table, Rule 17g-7 Disclosures and Certification, and the Representations, Warranties, and Enforcement Mechanisms, is available under the Ratings Reports tab at https://ratingagency.morningstar.com. Morningstar could receive subsequent information that may result in final ratings that differ from the preliminary ratings.

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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.

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

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