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Article: Moody's downgrades three classes of Morgan Stanley Capital I.(Commercial)
- Article from:
- Mortgage Banking
- Article date:
- February 1, 2004
CopyrightCOPYRIGHT 2004 Mortgage Bankers Association of America. 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)
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MOODY'S INVESTORS SERVICE HAS DOWN-graded the ratings of three classes and affirmed the rating of 12 classes of Morgan Stanley Capital I Inc., commercial mortgage pass-through certificates, series 1998-CFI.
Since the distribution date of Dec. 15, 2003, the transaction's aggregate principal balance has decreased by approximately 17.1 percent to $917.9 million from $1.107 billion at closing. The certificates are collateralized by 140 loans secured by commercial and multifamily properties. The loans range in size from less than 1 percent of the pool to 4.4 percent of the pool, with the top 10 loans representing 25.2 percent of the pool.
Two loans ...