New York, November 15, 2016 -- Moody's Investors Service, ("Moody's") has assigned provisional ratings to four classes of certificates backed by one floating-rate loan secured by mortgages on 3,787 single-family rental properties owned by Progress Residential 2016-SFR2 securitization. Of note, 2,790 of the total properties will be from Progress Residential 2015-SFR1, where a portion of the net proceeds from the offering of Progress Residential 2016-SFR2 will be used to repay the 2015-SFR1 transaction.
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