Credit Rating Report

TRTX 2019-FL3 Issuer, Ltd.: Surveillance Performance Update

CMBS

Summary

DBRS, Inc. (Morningstar DBRS) downgraded its rating on one class of floating-rate notes issued by TRTX 2019-FL3 Issuer, Ltd. Morningstar DBRS also confirmed its ratings on the remaining classes. The trends on all classes are Stable with the exception of Class G, which has a credit rating that does not carry a trend.

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