Two classes of DLJ Commercial Mortgage Corp. commercial mortgage pass-through certificates, series 2000-CKP1, have been downgraded by Fitch Ratings.Class B-8 was downgraded from B to CCC, and class B-9 was downgraded from B-minus to C. The ratings on 12 other classes in the deal were affirmed. The rating agency attributed the downgrades primarily to the pool's exposure to the bankrupt retailer Kmart. "Currently there are 10 loans representing 6.1% of the pool secured by properties with exposure to Kmart," Fitch said. "Kmart has rejected the leases on three of the properties representing 2% of the pool. Significant losses are expected on these three loans." Fitch can be found on the Internet at http://www.fitchratings.com.
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