The ratings on four classes of First Union National Bank Commercial Mortgage Trust's commercial mortgage pass-through certificates, series 2000-C2, have been lowered by Standard & Poor's Ratings Services.The downgrades were as follows: class K, from BB-minus to B; class L, from B-plus to D; class M, from B to D; and class N, from B-minus to D. S&P also placed the ratings of classes H, J, and K on CreditWatch with negative implications and affirmed the ratings on 10 other classes in the deal. S&P said the downgrades and CreditWatch placements were due chiefly to interest shortfalls that will result from the recovery by the master servicer (Wachovia Bank) of $5.1 million of advances related to the Crowne Plaza Downtown Phoenix hotel loan.
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