The ratings on eight P&I classes were affirmed because the transaction's key metrics, including Moody's loan-to-value (LTV) ratio, Moody's stressed debt service coverage ratio (DSCR) and the transaction's Herfindahl Index (Herf), are within acceptable ranges. The ratings on three P&I classes were downgraded due to the decline in performance and upcoming refinance risk of four loans (40.9% of the pool) secured by regional malls comprising of ; Northridge Fashion Center, Town Center at Cobb, Florence Mall, and Fashion Square, and the anticipated losses from troubled loans.