Credit Rating Report

KREF 2021-FL2 Ltd.: Surveillance Performance Update

CMBS

Summary

DBRS Limited (Morningstar DBRS) confirmed its credit ratings on all classes of notes issued by KREF 2021-FL2 Ltd. Morningstar DBRS also changed the trends on Classes F, G, F-E, F-X, G-E, and G-X to Negative from Stable. The trends on the remaining classes remain Stable.

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