OREANDA-NEWS. S&P Global Ratings today assigned its preliminary ratings to Citigroup Commercial Mortgage Trust 2016-SMPL's $540.0 million commercial mortgage pass-through certificates (see list).

The note issuance is one five-year, fixed-rate, interest-only commercial mortgage loan totaling $540 million, secured by the fee and leasehold interests in 102 self-storage facilities across 16 U. S. states and Puerto Ric..

The preliminary ratings are based on information as of Sept. 21, 2016. Subsequent information may result in the assignment of final ratings that differ from the preliminary ratings.

The preliminary ratings reflect our view of the collateral's historical and projected performance, the sponsor's and manager's experience, the trustee-provided liquidity, the loan's terms, and the transaction's structure.