Fitch Ratings has downgraded the primary servicer rating of Cleveland-based Capstone Realty Advisors from CPS2 to CPS3 and withdrawn the rating. Fitch said the moves reflect "the departure of the company's senior management team and the declining financial strength of parent company National City Corp.," which is rated A with a negative outlook. "Additionally, Capstone has informed Fitch that it is not prepared to provide further information regarding the future of the company's servicing operation at this time." Fitch rates residential servicers on a scale of 1 to 5, with 1 being the highest rating. Capstone can be found online at http://www.capstonegroup.com.
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