Class M of Credit Suisse First Boston Mortgage Securities Corp.'s commercial mortgage pass-through certificates, series 2000-C1, has been downgraded from CCC to C by Fitch Ratings.In addition, Fitch upgraded one class and affirmed the ratings on 12 others in the transaction. The downgrade reflects a change in loss expectations and an increase in specially serviced loans in the transaction, of which there are now five, the rating agency said. Losses are expected on three of the loans that represent 1.9% of the pool. The losses are expected to deplete the nonrated class N and "significantly" affect class M, Fitch said. The rating agency can be found online at http://www.fitchratings.com.
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