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Article: Fitch Takes Various Actions on CSFB 2007-TFL2.
- Article from:
- Real Estate Weekly News
- Article date:
- October 2, 2009
CopyrightCOPYRIGHT 2009 NewsRX. 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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Fitch Ratings has taken various actions on 11 classes of Credit Suisse First Boston Mortgage Securities Corp., series 2007-TFL2 including downgrades to eight tranches. A detailed list of rating actions follows at the end of this press release.
The downgrades are the result of the transfer of the largest loan, Planet Hollywood Resort and Casino (30.9% of the pool) to special servicing. The loan transferred to special servicing in August 2009 due to imminent default and the borrower's request for relief. In May 2009, a modification was completed which enabled the borrower to draw down $9 million of the $11 million interest reserve, subject to replenishment at the ...