OREANDA-NEWS. Fitch Ratings has affirmed 14 classes of Deutsche Bank Securities, Inc.'s COMM 2013-CCRE13 commercial mortgage pass-through certificates. A detailed list of rating actions follows at the end of this release.

KEY RATING DRIVERS
The affirmations are based on the stable performance of the majority of the underlying collateral pool. The Negative Outlooks on Classes E and F reflect the underperformance of three Fitch Loans of Concern (3.1% of the pool), including two loans secured by properties located in the troubled Bakken shale region of North Dakota. During a recent tour of the region to assess market conditions, Fitch visited both properties and confirmed the low demand for housing in their immediate areas.

As of the March 2016 distribution date, the pool's aggregate principal balance has been reduced by 1.9% to $1.1 billion from $1.13 billion at issuance. The pool has experienced no realized losses to date. No loans are defeased.

The largest Fitch Loan of Concern (2.2%) is secured by a mixed-use property located in downtown Philadelphia, PA. The property consists of approximately 40,000 square feet (sf) of ground floor retail space, 8,000 sf of second-floor office space, 14 residential units, and a 318-space parking garage. At closing, a high-end specialty grocer had signed a lease for approximately 20,000 sf of retail space with an expected move-in date of September 2014. The tenant never took possession of the space and requested to be released from its lease.

Approximately 50% of the retail space remains vacant. However, the borrower has reportedly submitted a request to the Lender for approval of a new lease with a different small grocer for 16,215 sf of first-floor space, which is currently being reviewed by the servicer. The servicer reported year-end 2015 net operating income (NOI) debt service coverage ratio (DSCR) was 0.67x. A debt service guarantee from the sponsor is currently in place.

Two additional Fitch Loans of Concern are secured by multifamily properties located in the Bakken shale region of ND, which has been severely impacted by the steep decline in oil prices. The Dickinson 16 loan (0.13%), which recently transferred to special servicing due to a payment default, is secured by a 16-unit multifamily property located in the city of Dickinson. Occupancy at the property declined from 100% at Issuance to 37% at year-end 2015. The Washington Valley Apartments loan (0.77%) is secured by a 72-unit multifamily complex located in Williston, ND. The year-end 2015 rent roll reported an occupancy of 60% compared with 94% at Issuance. While the loan has reportedly not been transferred to the special servicer, it is currently due for both the January and February 2016 payments.

RATING SENSITIVITIES
The Negative Outlooks on classes E and F reflect potential negative impact to the classes from the three poorly performing Fitch Loans of Concern. Downgrades to the classes are possible should the loans' performance not improve.

The Rating Outlooks for all other classes is Stable. Should overall portfolio performance remain steady or improve and loans continue to receive paydown, classes B through D could be upgraded in the future. All classes are subject to downgrade should performance decline.

Additional information on rating sensitivity is available in the report 'COMM 2013-CCRE13' (Dec. 10, 2013), 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 classes as indicated and assigned or revised Rating Outlooks as indicated:

--$29.9 million class A-1 at 'AAAsf'; Outlook Stable;
--$187.2 million class A-2 at 'AAAsf'; Outlook Stable;
--$72.7 million class A-SB at 'AAAsf'; Outlook Stable;
--$175 million class A-3 at 'AAAsf'; Outlook Stable;
--$287.1 million class A-4 at 'AAAsf'; Outlook Stable;
--$105 million class A-M at 'AAAsf'; Outlook Stable;
--$47 million class B at 'AA-sf'; Outlook Stable;
--$52.5 million class C at 'A-sf'; Outlook Stable;
--$0 class PEZ* at 'A-sf'; Outlook Stable;
--$55.3 million class D at 'BBB-sf'; Outlook Stable;
--$22.1 million class E at 'BBsf'; Outlook to Negative from Stable;
--$9.7 million class F at 'Bsf'; Outlook to Negative from Stable;
--$860.4 million class X-A** at 'AAAsf', Outlook Stable;
--$154.8 million class X-B** at 'BBB-sf', Outlook Stable.

* The class A-M, B and C certificates may be exchanged for class PEZ certificates, and class PEZ certificates may be exchanged for the class A-M, B and C certificates.

** Notional amount and interest only.

Fitch does not rate the class X-C, G and SLG certificates.