Kroll Bond Rating, a ratings agency that launched this year to nab market share from Moody's, Standard & Poor's and Fitch, rated its first single-borrower commercial mortgage-backed securities transaction this week. The rating is tied to a transaction backed by a 10-year, fixed-rate mortgage, with the 820,869-square-foot Fashion Centre at Pentagon City mall in Arlington, Va., serving as collateral. It is known as the BAMLL Trust 2011-FSHN transaction. The mall backing the loan has 148 tenants, including anchor tenants Macy's and Nordstrom. KBRA assigned four ratings to the deal, including a triple-A rating on a class with an anticipated balance of $310 million. The remaining classes received triple-B, A and double-A ratings, respectively. The ratings report comes months after Kroll Bond Rating launched to compete in areas where other rating agencies had lost some of their credibility in the housing crisis, mainly in the areas of CMBS and RMBS. Write to: Kerri Panchuk.