COMM CMBS Classes Downgraded

Four classes of COMM 2001-J1 commercial mortgage pass-through certificates have been downgraded by Fitch Ratings.The downgrades were as follows: class G, from BBB to BBB-minus; class H, from BBB-minus to BB; class J, from BBB-minus to BB; and class M, from AA-plus to AA. In addition, Fitch affirmed the ratings on 10 other classes in the deal. The rating agency attributed the downgrades chiefly to "the deteriorating performance of the Thayer Hotel Portfolio and 165 Market Halsey loans," which have shown "a significant decline" since issuance that Fitch said it expects will continue. The Thayer loan is secured by six full-service hotels in New Jersey, Louisiana, Florida, and Texas, and the Market Halsey loan is secured by a 16-story hotel in Newark, N.J. The rating agency can be found on the Web at http://www.fitchratings.com.