Moody’s rates Claros Mortgage loan Ba3

Moody’s Investors Service said it assigned a Ba3 corporate family rating to Claros Mortgage Trust, Inc. and a Ba3 senior secured rating to its proposed $350 million term loan B.

The outlook is stable.

“CMTG's Ba3 corporate family rating is supported by the company's strong capital adequacy, low leverage, and solid profitability,” the agency said in a news release.

“The rating also reflects CMTG's concentration in commercial real estate (CRE) lending, its high reliance on confidence-sensitive secured funding, and its limited operating history through a full credit cycle given the company's recent formation in 2015.”

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