Two classes of Criimi Mae Trust I's commercial mortgage bonds, series 1996-C1, have been downgraded by Fitch Ratings.Class E was downgraded from B to B-minus, and class F was downgraded from B-minus to C and assigned a Distressed Recovery rating of DR5. The downgrades were attributed to expected losses and the increasing concentrations of the deal. The certificates are collateralized by all or part of eight classes in six separate underlying fixed-rate commercial mortgage-backed securities transactions. Fitch can be found on the Web at http://www.fitchratings.com.
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