Three classes of DLJ Commercial Mortgage Trust commercial mortgage pass-through certificates, series 2000-CKP1, have been downgraded by Moody's Investors Service.The downgrades were as follows: class B-5, from B3 to Caa2; class B-6, from Caa1 to Caa3; and class B-7, from Caa3 to C. In addition, Moody's upgraded four classes and affirmed the ratings on six other classes in the deal. The downgrades were attributed to realized and expected losses from five specially serviced loans. The certificates are collateralized by 211 mortgage loans ranging in size from less than 1.0% to 7.6% of the pool, which consists of three shadow-rated loans representing 13.9% of the pool and a conduit component representing 86.1%, the rating agency reported. The pool collateral is a mix of retail (28.2%), office (28.0%), multifamily (19.2%), U.S. Government securities (14.9%), and other property types located in 40 states and Washington, D.C.

Subscribe Now

Authoritative analysis and perspective for every segment of the mortgage industry

30-Day Free Trial

Authoritative analysis and perspective for every segment of the mortgage industry