KEY RATING DRIVERS
The downgrade is the result of more certainty of losses on the
Since Fitch's last rating action, the pool has paid down by approximately
The transaction is collateralized by one loan, the specially-serviced
The rating on class J is revised to Negative as downgrades are possible if a prolonged workout for the
Fitch downgrades the following class as indicated:
Fitch affirms the following classes and revises Rating Outlooks as indicated:
The following classes originally rated by Fitch have paid in full: A-1, A-2, X-1, B, C, D, E, F, G, H, CAN-1, CAN-2, CAN-3, CAC-1, CAC-2, CAC-3, CNP-1, CNP-2, CNP-3, DSG-1, HFL, HGI-1, HGI-2, HMP-1, HMP-2, HMP-3, MVP,
Fitch did not rate the non-pooled classes DHC-1, DHC-2, DHC-3, DSG-2, PHH-1, PHH-2, SRL, and WPP.
Additional information is available at 'www.fitchratings.com'.
--'Global Structured Finance Rating Criteria' (
--'Criteria for Analyzing Large Loans in U.S. Commercial Mortgage Transactions' (
Global Structured Finance Rating Criteria
Criteria for Analyzing Large Loans in U.S. Commercial Mortgage Transactions
Source: Fitch Ratings
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