NEW YORK, March 24, 2015 /PRNewswire/ -- Morningstar Credit Ratings, LLC today assigned preliminary ratings for the commercial mortgage-backed securities (CMBS) transaction JPMBB Commercial Mortgage Securities Trust 2015-C28, Commercial Mortgage Pass-Through Certificates, Series 2015-C28 (JPMBB 2015-C28). The collateral supporting JPMBB 2015-C28 consists of 67 mortgage loans secured by 122 commercial real estate properties. The preliminary ratings are based on information known to Morningstar as of March 24, 2015. 



    PRELIMINARY RATINGS (AS OF MARCH 24, 2015)
    -----------------------------------------

                                                        Balance/ Preliminary  Morningstar  Morningstar   Morningstar    Credit Support
                                               Notional Amt. ($)     Ratings     DSCR (x)     BLTV (%)     ELTV (%)       Levels (%)
                                                ----------------     -------      -------      -------       -------         ---------

    Class
    -----

    Offered Certificates
    --------------------

    Class A-1                                         35,258,000          AAA         2.20         65.20          57.05             23.125

    Class A-2                                        163,954,000          AAA         2.20         65.20          57.05             23.125

    Class A-3                                        225,000,000          AAA         2.20         65.20          57.05             23.125

    Class A-4                                        304,976,000          AAA         2.20         65.20          57.05             23.125

    Class A-SB                                        70,766,000          AAA         2.20         65.20          57.05             23.125

    Class X-A                                        878,521,000          AAA          N/A          N/A           N/A               N/A

    Class X-B                                         70,218,000          AAA          N/A          N/A           N/A               N/A

    Class A-S                                         78,567,000          AAA         2.20         65.20          57.05             23.125

    Class B                                           70,218,000          AA-         2.04         70.41          62.27             16.981

    Class C                                           54,168,000           A-         1.93         74.43          66.30             12.241

    Class EC                                         202,953,000           A-         1.93         74.43          66.30             12.241
    --------                                         -----------          ---         ----         -----          -----             ------

    Non-Offered Certificates
    ------------------------

    Class X?C                                         54,168,000          AAA          N/A          N/A           N/A               N/A

    Class X?D                                         54,005,000          AAA          N/A          N/A           N/A               N/A

    Class X?E                                         27,149,000          AAA          N/A          N/A           N/A               N/A

    Class X?F                                         14,639,000          AAA          N/A          N/A           N/A               N/A

    Class X?NR                                        44,091,697          AAA          N/A          N/A           N/A               N/A

    Class D                                           54,005,000         BBB-         1.83         78.44          70.31              7.515

    Class E                                           27,149,000          BB-         1.78         80.46          72.33              5.139

    Class F                                           14,639,000            B         1.76         81.54          73.41              3.858

    Class NR                                          44,091,697           NR         1.69         87.60          79.00              0.000
    --------                                          ----------          ---         ----         -----          -----              -----


    NR - Not Rated

For complete details about the preliminary ratings for this transaction, Morningstar's Presale Analysis Package, including the Presale Report, Asset Summary Reports, Loan Analysis Summary Table, 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.

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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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