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Article: Fitch Downgrades BACM 2006-3; Revises Outlooks.
- Article from:
- Business Wire
- Article date:
- August 10, 2009
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CHICAGO -- Fitch Ratings has downgraded, removed from Rating Watch Negative, and assigned Rating Outlooks to seven classes of commercial mortgage pass-through certificates from Bank of America Commercial Mortgage Inc. (BACM), series 2006-3. A detailed list of rating actions follows at the end of this release.
The downgrades are the result of loss expectations and reflect Fitch's prospective views regarding commercial real estate market value and cash flow declines. Fitch foresees potential losses could reach as high as 9.9% for this transaction should market conditions not recover. Today's rating actions are based on losses of 7.4%, including 100% of the term ...