Class L of Greenwich Capital Commercial Funding Corp. series 2006-FL4 commercial mortgage pass-through certificates has been downgraded from BB-plus to BB-minus by Fitch Ratings. Fitch also placed classes N, O, P, and Q on Rating Watch Negative and affirmed the ratings on 12 other classes as well as on 12 classes of nonpooled trust assets. The downgrade was based on the failure of the Galleria Sheraton Metairie loan, located in the New Orleans area, to perform up to expectations, the rating agency said.
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