Wachovia's Ratings Affirmed
Fitch Ratings has affirmed the commercial mortgage-backed securities ratings of Wachovia at "CPS2+" as a primary servicer, "CMS2" as a master servicer and "CSS2" as a special servicer. Fitch noted that Wachovia has increased its outsourcing of select servicing functions.
At the end of last year, Wachovia was either primary or master servicer on 174 CMBS transactions totaling $146 billion. Wachovia oversees 48 primary servicers with a balance of $33 billion and is named special servicer on 45 transactions, totaling $17 billion.
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