Two classes of COMM commercial mortgage pass-through certificates, series 2000-C1, have been downgraded by Fitch Ratings.Class M was downgraded from CCC/DR1 to C/DR6, and class L was downgraded from B-minus to CCC and assigned a Distressed Recovery rating of DR1. (Distressed Recovery ratings, which designate a transaction's recovery prospects, range from a high of DR1 to a low of DR6.) Fitch also upgraded five classes from the transaction, and the ratings on seven classes were affirmed. The downgrades are the result of increased loss expectations on the specially serviced assets, the rating agency said. Fitch said its projected losses on the specially serviced assets are expected to fully deplete classes N and O and negatively affect classes L and M.
