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Fitch Lowers KMART's Grade On CMBS Classes.(Commercial Mortgage Backed Securities)

Mortgage Servicing News

| March 01, 2003 | COPYRIGHT 2003 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Six classes in five commercial mortgage-backed security transactions have been downgraded by Fitch Ratings in connection with recently announced Kmart store closings.

The downgrades are as follows: Credit Suisse First Boston series 1998-C1, class I, from B-minus to CCC; DLJ Commercial Mortgage Corp. series 2000-CKP1, class B-7, from B-plus to B-minus; First Union Commercial Mortgage Trust series 2000-C1, class M, from B-minus to CCC; Mortgage Capital Funding Inc. series 1997-MC1, class H, from B to CCC; and Mortgage Capital Funding Inc. series 1987-MC2, class J, from B to B-minus, and class K, from B- minus to CCC.

In addition, class G ...

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Source: HighBeam Research, Fitch Lowers KMART's Grade On CMBS Classes.(Commercial Mortgage...

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