KBRA releases CREFC June Conference 2026: Day 1 recap. Published at June 9th 2026, 12:22 PM EDT via Business Wire i This article is third-party content and does not represent the views of this site. We make no guarantees regarding its accuracy or completeness. KBRA Credit Profile (KCP), a division of KBRA Analytics, releases its Day 1 recap of the CRE Finance Council (CREFC) June Conference 2026 held in New York City. Audiences listened as industry leaders discussed the challenges and opportunities facing commercial real estate (CRE) within the current macroeconomic environment. Key Takeaways * Office remains the primary driver of rising commercial mortgage-backed securities (CMBS) delinquency rates, with refinancing challenges and maturity stress continuing to weigh on the sector. * A/B note splits have reemerged as an important workout tool, although resolution strategies remain highly deal-specific and must account for collateral type, transaction structure, borrower capital support, and timing constraints. * Today's higher-cost capital environment requires a more targeted investment approach, with borrowers and investors prioritizing asset quality, location, income growth, and execution certainty. * Data centers and digital infrastructure remain a dominant investment theme, but underwriting risks are receiving greater scrutiny. * Private credit has become a permanent source of CRE capital and continues to grow in importance, despite negative headlines around the broader private credit market. * CMBS issuance remains resilient despite macro uncertainty, with single-asset single borrower (SASB) and CRE collateralized loan obligation (CLO) transactions leading market activity. * Geopolitical tensions and trade policy uncertainty are creating additional CRE headwinds, with tariffs, energy costs, and capital flow volatility increasing construction costs and execution risk. About KBRA KBRA, one of the major credit rating agencies, is registered in the U.S., EU, and the UK. KBRA is recognized as a Qualified Rating Agency in Taiwan, and is also a Designated Rating Organization for structured finance ratings in Canada. As a full-service credit rating agency, investors can use KBRA ratings for regulatory capital purposes in multiple jurisdictions. Doc ID: 1015442 Steve Kuritz, Senior Managing Director, KBRA Analytics +1 215-882-5866 [email protected] Media Contact Adam Tempkin, Senior Director of Communications +1 646-731-1347 [email protected] Report this content If you believe this article contains misleading, harmful, or spam content, please let us know.

Private credit borrowers are reporting strong earnings growth, but a Kroll Bond Rating Agency study reveals troubling cash flow dynamics. The analysis of over 2,400 sponsor-backed middle-market borrowers found that whilst median EBITDA grew 27% over two years through Q1 2026, operating cash flow rose just 8%. The median ratio of operating cash flow to EBITDA dropped to 21% from 33% two years ago, with 48% of borrowers now reporting negative operating cash flow, up from 39% previously. Interest coverage based on operating cash flow stands at just 0.3x, suggesting borrowers have minimal cash after debt servicing. Companies are increasingly drawing on revolving credit facilities or seeking equity injections. The hardest-hit sectors include beverage and food, electrical equipment, and chemicals.

KBRA credit ratings to be included in Bloomberg CMBS index methodology. NEW YORK-(BUSINESS WIRE)-KBRA today announced that its credit ratings will be incorporated into Bloomberg Index Services Limited's CMBS index rating methodology, effective with the June 2026 month-end index rebalance. The Bloomberg CMBS index is a widely followed benchmark used by institutional investors to track the performance of U.S. commercial mortgage-backed securities and support portfolio construction, risk management, and relative value analysis. The index includes more than 2,300 securities representing nearly $447 billion in market value, based on Bloomberg data as of March 31, 2026. KBRA will become the fourth rating agency included in the Bloomberg CMBS index rating methodology, which incorporates ratings from multiple agencies within a rules-based framework designed to promote consistency and transparency in index construction. "KBRA's inclusion in the Bloomberg CMBS index rating methodology reflects the growing reliance investors place on our ratings, surveillance, and credit insights across the structured finance market," said Kate Kennedy, Chief Corporate Strategy Officer at KBRA. "As an investor-focused rating agency, KBRA is committed to providing transparent, data-driven credit opinions that investors have come to rely on in their investment and risk management processes. Our inclusion in the index further expands investors' ability to incorporate KBRA ratings into their analysis and portfolio decisions." About KBRA KBRA, one of the major credit rating agencies, is registered in the U.S., EU, and the UK. KBRA is recognized as a Qualified Rating Agency in Taiwan, and is also a Designated Rating Organization for structured finance ratings in Canada. As a full-service credit rating agency, investors can use KBRA ratings for regulatory capital purposes in multiple jurisdictions. Doc ID: 1015092 Contacts. Media Contact Adam Tempkin, Senior Director of Communications +1 646-731-1347 [email protected] More News From Kroll Bond Rating Agency, LLC NEW YORK-( BUSINESS WIRE )-KBRA assigns a long-term rating of AA to the Department of Water and Power of the City of Los Angeles, CA Power System Revenue Bonds, 2026 Series B. The Outlook is Stable. The long-term rating reflects the stable operating and financial performance of the Power System of the Los Angeles Department of Water and Power ("LADWP"), which benefits from a large, mostly residential service area, with rising, though still affordable customer rates, a diverse generation mix, an... NEW YORK-( BUSINESS WIRE )-KBRA releases a recap of its Esoteric ABS Forum: Sectors in Bloom, an event focused on the key trends shaping today's commercial asset-backed securities (ABS) sectors. The forum, which was held on May 19, brought together market participants from across the ABS ecosystem for a series of panels covering the music, fiber, communication infrastructure, and whole business sectors. The program opened with remarks from Rosemary Kelley, KBRA's Head of Structured Finance Busi... LONDON-( BUSINESS WIRE )-KBRA UK (KBRA) assigns preliminary ratings to five classes of notes issued by RRE 29 Loan Management DAC, a cash flow collateralised loan obligation (CLO) backed primarily by a diversified portfolio of Euro-denominated corporate loans. RRE 29 Loan Management DAC is managed by Redding Ridge Asset Management (UK) LLP ("RRAM UK" or the"collateral manager"). The CLO will have a 4.5-year reinvestment period and a 14.5-year legal final. The ratings reflect initial credit enha...