Agencies rate $439m Progress Residential 2015-SFR2

Morningstar and Kroll Bond Rating Agency (KBRA) have issued preliminary ratings on Progress Residential 2015-SFR2, a $438.7m securitization of 3,317 single-family rental (SFR) homes. The rating agencies awarded a ‘AAA’ rating to the $229.9m top tranche of the securitization, which marks the third SFR issue under borrower Progress Residential and the 19th single-borrower SFR securitization.