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Article: Fitch Downgrades LB-UBS 2006-C1; Assigns Outlooks.
- Article from:
- Business Wire
- Article date:
- September 22, 2009
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CHICAGO -- Fitch Ratings downgrades and removes from Rating Watch Negative 13 classes and assigns Rating Outlooks to all rated classes of commercial mortgage pass-through certificates from LB-UBS Commercial Mortgage Trust. A detailed list of rating actions follows at the end of this press 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 forecasts potential losses of 6.2% for this transaction, should market conditions not recover. Today's rating actions are based on losses of 3.4%, including 100% of the losses associated with term defaults ...