OREANDA-NEWS. September 29, 2015.  Fitch Ratings affirms 15 classes of Wells Fargo Bank, N.A.'s WFRBS Commercial Mortgage Trust series 2014-C22 commercial mortgage trust pass-through certificates. A full list of rating actions follows at the end of this press release.

KEY RATING DRIVERS
The affirmations are due to the overall stable performance of the underlying collateral pool. Fitch reviewed the most recently available financial performance data for the transaction, as well as updated rent rolls for the majority of the top 15 loans, which represent 52.8% of the transaction.

As of the September 2015 distribution date, the pool's aggregate principal balance has been reduced by 0.6% to \\$1.48 billion from \\$1.49 billion at issuance. Interest shortfalls are currently affecting class G.

The largest loan in the pool, Bank of America Plaza (10.1% of the pool), is secured by a 1,432,285-sf office building located in downtown Los Angeles. The largest tenants are The Capital Group Companies (22.6%); expiry February 2018; Shepark, Mullin, Richter & Hampton LLC (13%), expiry December 2024; Bank of America (11.4%), expiry June 2022.

As of September 2015, the property is 93.4% with average rent at \\$22 per square foot (psf). Per REIS as of the second quarter of (2Q) 2015, the downtown Los Angeles office market vacancy rate is 14.3% with an average asking rent of \\$35.40 psf.

There is approximately 30% rollover in 2018 which includes the largest tenant (23%). The loan is pari passu with the \\$125 million A-1 note in this deal, \\$116.7 million A-2 note in WFRBS 2014-C23; \\$23.3 million A-3-B note in GSMS 2014-GC26; and \\$110 million A-3A note in CGCMT 2014-GC25.

The second largest loan, Columbus Square Portfolio (8.5%), is secured by five retail/community facility units and an underground parking garage, totaling 494,224 sf. The property is located between 97th and 98th streets on Columbus and Amsterdam Avenues in the Upper West Side neighborhood of Manhattan. The largest tenants include Quik Park (21.9% of net rentable area [NRA]), Whole Foods (11.6% of NRA), Mandell School (8.9% of NRA) and TJ Maxx (8.2% of NRA). The property was 95.7% occupied as of July 2014. The property does not experience any rollover until October 2019 when approximately 8% rolls. The most recently reported DSCR is 1.51x as of year-end (YE) 2014. The loan is pari passu with the \\$125 million A-1 note in this deal, \\$103.8 million A-2 note in JPMBB 2014-C23, \\$75 million A-3 note in WFRBS 2014-C23; and \\$96.2 million A-4 Note in JPMBB 2014-C24.

The third largest loan, Stamford Plaza Portfolio (6.8%), is secured by four class A office properties located in Stamford, CT, totaling 982,483 sf. As of March 2015, the portfolio is 89.8% occupied. Per REIS as of 2Q 2015, the Stamford submarket Class A vacancy rate is 29.5% with an average asking rent of \\$40.95 sf. There is minimal upcoming rollover at the property until 2018 when approximately 20% of the space rolls. The loan is pari passu with the \\$100 million A-3 note in this deal, \\$30 million A-2B note in CGCMT 2014-GC25, \\$120 million A-1 and \\$20 million A-2A notes in GSMS 2014-GC24.

RATING SENSITIVITIES
The Rating Outlook for all classes remains Stable. Due to the recent issuance of the transaction and stable performance, Fitch does not foresee positive or negative ratings migration until a material economic or asset-level event changes the transaction's portfolio-level metrics. Additional information on rating sensitivity is available in the report 'WFRBS Commercial Mortgage Trust, series 2014-C22' (Sept. 2, 2014) available at www.fitchratings.com.

DUE DILIGENCE USAGE
No third-party due diligence was provided or reviewed in relation to this rating action.

Fitch has affirmed the following ratings:

--\\$48.9 million class A-1 at 'AAAsf'; Outlook Stable;
--\\$75.9 million class A-2 at 'AAAsf'; Outlook Stable;
--\\$59.9 million class A-3 at 'AAAsf'; Outlook Stable;
--\\$360 million class A-4 at 'AAAsf'; Outlook Stable;
--\\$386 million class A-5 at 'AAAsf'; Outlook Stable;
--\\$102.1 million class A-SB at 'AAAsf'; Outlook Stable;
--Interest-only class X-A at 'AAAsf'; Outlook Stable;
--\\$104.1 million class A-S at 'AAAsf'; Outlook Stable;
--\\$68.8 million class B at 'AA-sf'; Outlook Stable;
--\\$52.1 million class C at 'A-sf'; Outlook Stable;
--Interest-only class X-C at 'BBsf'; Outlook Stable;
--Interest-only class X-D at 'Bsf'; Outlook Stable;
--\\$111.6 million class D at 'BBB-sf'; Outlook Stable;
--\\$31.6 million class E at 'BBsf'; Outlook Stable;
--\\$14.9 million class F at 'Bsf'; Outlook Stable.

Fitch does not rate the interest-only class X-B, interest-only class X-E, interest-only class X-Y, or the class G certificates. Since Fitch issued its expected ratings on Aug. 26, 2014, the class PEX was withdrawn.