Morgan Stanley Bank of America Merrill Lynch Trust 2016-C32

Tranches, pool and monthly delinquency indicator for Morgan Stanley Bank of America Merrill Lynch Trust 2016-C32.

Data as of loan data through September 2026; ratings as held in the dataset at build

Current pool balance: $565.8M (September 2026)
Original pool balance: $907.0M
Loans at issuance: 59
Closing date: 2016-12-21
Weighted average coupon at issuance: 4.32%
Weighted average LTV at issuance: 48.7%
30+ delinquent (latest): 0.00%
Realized stress score: 39.4
Net rating change since issuance: +0.11 notches

Tranches

Class	Original balance	Credit support (computed)	Coupon	CUSIP	Fitch	KBRA	S&P	Moody's	DBRS
A-1	$36.9M	95.93%	1.968% fixed	61691GAN0	PIF	not yet reported	not yet reported	WR	Discontinued
A-2	$6.8M	95.18%	3.297% fixed	61691GAP5	PIF	not yet reported	not yet reported	WR	Discontinued
A-3	$190.0M	74.23%	3.459% fixed	61691GAR1	AAA	not yet reported	not yet reported	Aaa	AAA (sf)
A-4	$342.6M	36.46%	3.720% floating (WAC)	61691GAS9	AAA	not yet reported	not yet reported	Aaa	AAA (sf)
A-S	$65.8M	29.21%	3.994% floating (WAC)	61691GAV2	AAA	not yet reported	not yet reported	Aa1	AAA (sf)
A-SB	$58.6M	22.75%	3.514% fixed	61691GAQ3	AAA	not yet reported	not yet reported	Aaa	AAA (sf)
B	$44.2M	17.88%	4.095% floating (WAC)	61691GAW0	AA	not yet reported	not yet reported	not yet reported	AAA (sf)
C	$43.1M	13.13%	4.297% floating (WAC)	61691GAX8	A-	not yet reported	not yet reported	not yet reported	AA (sf)
D	$48.7M	7.75%	3.396% floating (WAC)	61691GAC4	BB-	not yet reported	not yet reported	not yet reported	BBB (high) (sf)
E	$23.8M	5.13%	4.297% floating (WAC)	61691GAE0	CCC	not yet reported	not yet reported	not yet reported	BBB (low) (sf)
F	$10.2M	4.00%	4.297% floating (WAC)	61691GAG5	CC	not yet reported	not yet reported	not yet reported	BB (low) (sf)
G	$36.3M	0.00%	4.297% floating (WAC)	61691GAJ9	not yet reported	not yet reported	not yet reported	not yet reported	not yet reported
R	not yet reported	not yet reported	not yet reported	61691GAL4	not yet reported	not yet reported	not yet reported	not yet reported	not yet reported
X-A	$634.9M	Interest only	0.780% floating	61691GAT7	AAA	not yet reported	not yet reported	Aaa	AAA (sf)
X-B	$110.0M	Interest only	0.262% floating	61691GAU4	AA	not yet reported	not yet reported	not yet reported	AAA (sf)
X-D	$48.7M	Interest only	0.901% floating	61691GAA8	BB-	not yet reported	not yet reported	not yet reported	A (low) (sf)

Credit support is computed from the class stack order in the prospectus: the share of the deal's principal balance in classes junior to the class. Interest-only classes carry a notional balance and no principal support figure. Ratings are the latest held in the dataset for each class and agency; NR means the agency shows the class as not rated, WR that the rating was withdrawn, PIF that the class has been paid in full. Any other status value is shown exactly as the agency reports it. A + after a CUSIP marks a class with companion CUSIPs in the dataset.

Pool at issuance

Loans	59
Original loan balance	$910.4M
Weighted average coupon	4.32%
Weighted average LTV	48.7%
Median loan LTV	62.9%
Full-term interest only (share of balance)	46.1%
Balloon loans (share of balance)	100.0%
Largest loan (share of balance)	6.0%
Five largest loans (share of balance)	27.7%
Occupancy at issuance (weighted average)	92.0%

Realized outcomes

Months reported	117
Peak 30+ delinquency	7.55% (June 2020)
Ever severe (share of original balance)	9.23%
Ever modified (share of original balance)	8.68%
Past scheduled maturity (share of original balance)	0.00%
Non-performing matured (share of original balance)	37.67%
Maximum servicer advances (share of balance)	0.13%
Median DSCR, first year	1.95
Median DSCR, latest	1.71
Realized stress score	39.4

Property types

Property type	Original balance	Share of pool
Retail	$302.9M	33.3%
Office	$120.2M	13.2%
Multifamily	$77.1M	8.5%
Industrial	$38.6M	4.2%
Lodging	$31.5M	3.5%
Self storage	$19.4M	2.1%
Mixed use	$13.9M	1.5%

Property type is reported for 66.3% of the pool balance; shares are of the full pool.

Largest loans

Property	Location	Original balance	Share of pool	Coupon	Originated
191 PEACHTREE	Atlanta, GA	$55.0M	6.0%	3.73%	2016
100 HAMILTON	Palo Alto, CA	$53.0M	5.8%	3.84%	2016
POTOMAC MILLS	Woodbridge, VA	$52.0M	5.7%	2.99%	2016
WOLFCHASE GALLERIA	Memphis, TN	$50.0M	5.5%	4.15%	2016
FedEx Ground Portfolio	not yet reported	$42.5M	4.7%	4.16%	2016

Delinquency and stress indicator

▬ 30+ days delinquent · ▬ Distressed (90+, foreclosure, REO, non-performing matured)

Monthly shares of the deal's reported balance, from the deal indicator series in the dataset. Months in which fewer than half of the reported loans carry a delinquency status code are not plotted.

Ratings

Classes with a CUSIP	16 of 16
Classes with a current rating in the dataset	14 of 16
Net rating change since issuance	+0.11 notches (balance-weighted)
Delinquency threshold crossed	May 2020
First downgrade	March 2017

Sources: SEC Form ABS-EE asset-level reports, Form 10-D distribution reports and the deal prospectus; rating histories published under SEC Rule 17g-7(b) and agency releases. Definitions are in the methods note on the market page.