Class O of Banc of America Commercial Mortgage Inc.'s commercial mortgage pass-through certificates, series 2001-1, has been downgraded from CCC/DR2 to C/DR6 by Fitch Ratings.Fitch has also upgraded one class and affirmed the ratings on 14 other classes in the deal. The rating agency said the downgrades are due to increased loss expectations on the four specially serviced loans, of which the two largest (representing 2.2% of the pool) are multifamily properties in Columbia, Mo., that are suffering cash flow problems and were transferred to special servicing due to imminent default. The third-largest specially serviced asset is a retail shopping center in Arabi, La., that suffered heavy damage due to Hurricane Katrina and is being marketed by the special servicer.

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