KEY RATING DRIVERS
Since the last rating action, the CDO has continued to effectively liquidate and, as of the
Since the last rating action, total pay down has been approximately
The classes are subject to downgrade should further losses be realized.
Fitch affirms the following ratings:
Classes A-1 through D and S have paid in full.
Additional information is available at 'www.fitchratings.com'.
--'Global Structured Finance Rating Criteria' (
--'Surveillance Criteria for U.S. CREL CDOs and CMBS Large Loan Floating-Rate Transactions' (
Global Structured Finance Rating Criteria
Surveillance Criteria for U.S. CREL CDOs and CMBS Large Loan Floating-Rate Transactions
Primary Surveillance Analyst
Source: Fitch Ratings
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