Fitch Ratings has upgraded one class and affirmed one class of KEY RATING DRIVERS
The upgrade is due to increasing credit enhancement and stable performance of the remaining pool. Fitch modeled losses of 3.4 percent of the remaining pool; expected losses on the original pool balance total 1.6 percent, including
As of the
Eleven of the loans within the pool have the same sponsor and are located in
The largest contributor to expected losses is a 71 unit nursing and convalescent home in
The Rating Outlook on class J remains Stable due to increasing credit enhancement and continued paydown.
Fitch upgrades the following class as indicated:
Fitch affirms the following class but revises RE as indicated:
The class A-1, A-2 and B through H certificates have paid in full. Fitch does not rate the class L certificates. Fitch previously withdrew the rating on the interest-only class X certificates.
Additional information on Fitch's criteria for analyzing U.S. CMBS transactions is available in the
Structured Finance then CMBS then Criteria Reports
Additional information is available at 'fitchratings.com'.
--'Global Structured Finance Rating Criteria' (
--'U.S. Fixed-Rate Multiborrower CMBS Surveillance and Re-REMIC Criteria' (
Global Structured Finance Rating Criteria
U.S. Fixed-Rate Multiborrower CMBS Surveillance and Re-REMIC Criteria
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Fitch Ratings has upgraded one class and affirmed one class of
KEY RATING DRIVERS