DLJ MBS Class Downgraded

Class B-8 of DLJ Commercial Mortgage Corp.'s pass-through certificates, series 1999-CG2, has been downgraded from B-minus to CCC and assigned a Distressed Recovery rating of DR3 by Fitch Ratings.In addition, Fitch affirmed the ratings on 13 other classes in the transaction. The downgrade is a result of increased loss expectations on the specially serviced loans as a result of recent valuations on specially serviced assets, Fitch said. There are four loans in special servicing and significant losses are expected, the rating agency said. The largest specially serviced asset is a multifamily property in Marietta, Ga., that is real estate owned. The second-largest is an REO office property in King of Prussia, Pa., and the third-largest is a retail property in Boaz, Ala., that is also REO.