OREANDA-NEWS. October 13, 2015. Fitch Ratings has affirmed 19 classes of J.P. Morgan Chase Commercial Mortgage Securities Trust series 2014-C24 (JPMBB 2014-C24) commercial mortgage pass-through certificates. A detailed list of rating actions follows at the end of this press release.

KEY RATING DRIVERS

The affirmations of the JPMBB 2014-C24 certificates are based on the stable performance of the underlying collateral pool. The pool's aggregate principal balance has been paid down 0.31% to \\$1.272 billion from \\$1.276 billion. As of this review, no loans have defeased. No loans have been transferred to the special servicer and there are no loans on the master servicer's watchlist. Fitch has not designated any loans as Fitch Loans of Concern.

The largest loan of the pool (9.07%) is secured by Grapevine Mills, a 1.6 million square foot (sf) regional shopping center located in Grapevine, TX. Occupancy at the subject was 95% as of June 2015. Year-end 2014 financials were not available for the property. The transaction interests represent the A-3 and A-4 notes and are pari passu with A-1 and A-2 notes securitized in JPMBB 2014-C23 and A-5 and A-6 notes in JPMBB 2014-C25.

The second largest loan (9.07%) is secured by the Mall of Victor Valley, a 477,394 sf enclosed, regional mall located in Victorville, CA. The property is anchored by Macy's, JCPenney, Sears, and Dick's Sporting Goods. Occupancy as of June 2015 was 98%. Year-end 2014 financials were also unavailable for the property.

The third largest loan (7.59%) is secured by the Columbus Square Portfolio, which contains five retail and community facility units and an underground parking garage, totalling 494,244 sf and located on Manhattan's Upper West Side. Largest tenants include Quick Park, Whole Foods, Mandell Nursery, and TJ Maxx. Occupancy amongst the properties is 100%, as of YE 2014. YE 2014 DSCR increased to 1.51x from 1.17x at issuance. The transaction interests represents the A-4 note and are pari passu with the A-1 note included in WFRBS 2014-C22, the A-2 note included in JPMBB 2014-C23, and the A-3 note securitized in WFRBS 2014-C23.

RATING SENSITIVITIES

Rating Outlooks on classes A-1 through F remain Stable due to the relatively stable performance of the pool since issuance. No rating changes are expected unless there is material performance deterioration or loans become specially serviced. Additional information on key rating drivers and rating sensitivities are further described in the new issue report J.P. Morgan Chase Commercial Mortgage Securities Trust 2014-C24 (Oct. 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:

--\\$35.8 million class A-1 at 'AAAsf'; Outlook Stable;
--\\$184 million class A-2 at 'AAAsf'; Outlook Stable;
--\\$41 million class A-3 at 'AAAsf'; Outlook Stable;
--\\$190 million class A-4A1 at 'AAAsf'; Outlook Stable;
--\\$75 million class A-4A2 at 'AAAsf'; Outlook Stable;
--\\$297.3 million class A-5 at 'AAAsf'; Outlook Stable;
--\\$66.6 million class A-SB at 'AAAsf'; Outlook Stable;
--\\$76.2 million class A-S at 'AAAsf'; Outlook Stable;
--\\$76.2 million class B at 'AA-sf'; Outlook Stable;
--\\$47.7 million class C at 'A-sf'; Outlook Stable;
--\\$200.2 million class EC at 'A-sf'; Outlook Stable;
--\\$81 million class D at 'BBB-sf'; Outlook Stable;
--\\$25.4 million class E at 'BBsf'; Outlook Stable;
--\\$14.3 million class F at 'Bsf'; Outlook Stable;
--\\$966.2 million* class X-A at 'AAAsf'; Outlook Stable;
--\\$76.2 million* class X-B1 at 'AA-sf'; Outlook Stable;
--\\$81 million* class X-B2 at 'BBB-sf'; Outlook Stable;
--\\$25.4 million* class X-C at 'BBsf'; Outlook Stable;
--\\$14.3 million* class X-D at 'Bsf'; Outlook Stable.

Class A-S, B, and C certificates may be exchanged for class EC certificates and class EC certificates may be exchanged for class A-S, B, and C certificates.

*Notional Amount and interest only.

Fitch does not rate class X-E, NR, ESK certificates.