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Kroll Bond Rating Agency Assigns Preliminary Ratings to BB-UBS Trust 2012-SHOW

NEW YORK--(BUSINESS WIRE)-- Kroll Bond Rating Agency (KBRA) is pleased to announce the assignment of preliminary ratings to the BB-UBS Trust 2012-SHOW transaction (see ratings list below). BB-UBS Trust 2012-SHOW is an $835.0 million CMBS single borrower transaction.

The collateral for the securitization is comprised of a single, non-recourse, first lien mortgage loan with an original principal balance of $835.0 million, made by Barclays Bank PLC and UBS Real Estate Securities Inc. to a special purpose entity that is indirectly owned and controlled by GGP Limited Partnership, an affiliate of General Growth Properties, Inc. (GGP). The loan is secured by the borrower’s fee simple interest in 836,006 sf of a 1.86 million sf super-regional mall known as Fashion Show Mall, which is located on the Las Vegas Strip in Nevada. The mall features seven major tenants (> 10,000 sf) and 198 in-line (