NEW YORK–(BUSINESS WIRE)– #creditratingagency–KBRA releases research examining the performance of 2012-16 vintage commercial mortgage-backed securities (CMBS) conduit transactions as they approach the end of their life cycles, with a focus on transaction tail periods, principal paydowns and losses, and interest payment disruptions as the remaining underlying loans mature and undergo workouts. CMBS conduit securitizations issued from 2012 through 2016 were predominantly collateralized by 10-year loans, most of whi