Class M-5 of CBA Commercial Mortgage Pass-Through Certificates series 2006-1 has been downgraded from Ba2 to B1 by Moody's Investors Service and placed on review for possible further downgrade. Moody's also placed classes M-2, M-3, and M-4 on review for possible downgrade and affirmed the ratings on three other classes in the transaction. The certificates are collateralized by 239 mortgage loans. The downgrade was attributed to the high percentage of loans (13.1%) in special servicing and projected losses from those loans.
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