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NEW YORK--(BUSINESS WIRE)-- #creditratingagency--KBRA is pleased to announce the assignment of preliminary ratings to three classes of FREMF Series 2025-K173 mortgage pass-through certificates and three classes of Freddie-Mac structured pass-through certificates (SPCs), Series K-173. FREMF 2025-K173 is a $1.3 billion CMBS multi-borrower transaction. Freddie Mac will guarantee five classes of certificates issued in the underlying Series 2025-K173 securitization and will deposit the guaranteed underlying certificates