Class B-3 of Asset Securitization Corp.'s commercial mortgage pass-through certificates, series 1996-D3, has been downgraded from C to D by Fitch Ratings.The ratings on eight other classes in the same series were affirmed. Fitch attributed the downgrade to the liquidation of a hotel in Lubbock, Texas, that resulted in a loss of approximately $2.4 million to the trust.

Subscribe Now

Authoritative analysis and perspective for every segment of the mortgage industry

30-Day Free Trial

Authoritative analysis and perspective for every segment of the mortgage industry