Fitch Downgrades PNC CMBS Class

Published May 09, 2007, 2:00 p.m. EDT

1 Min Read

Class M of PNC Commercial Mortgage Acceptance Corp.'s commercial mortgage pass-through certificates, series 2000-C1, has been downgraded from B-minus to CCC/DR2 by Fitch Ratings.In addition, Fitch downgraded the Distressed Recovery rating of class N from DR5 to DR6 and affirmed the ratings on 12 other classes in the transaction. The downgrade was attributed to increased loss expectations regarding the specially serviced loans and higher-than-expected losses on one disposed asset.

Processing Content

For reprint and licensing requests for this article, click here.

MORE FROM NATIONAL MORTGAGE NEWS

Cyber Security

SitusAMC agrees to $5.3 million settlement over data breach

If approved, the deal can provide relief for the approximately 662,000 individuals affected by an incident at the mortgage vendor last November.

By Andrew Martinez
Reporter

4m ago
Flood insurance

Uninsured homes in flood-prone areas pose growing credit risk

Properties outside of the 100-year flood zone exposed to $375 billion to $1 trillion in losses, Moodys reports

By Nazeefa Ahmed

1h ago
Bring your own agents: Why servicing's AI reset belongs to servicers, Not vendors/partners

AI is reshaping mortgage servicing—BYOA puts servicers in control. Discover how Dara by Sagent unlocks speed, compliance, and real-time action.

Partner Insights from Sagent
Secondary markets

Non-QM check: How vintage risk is reshaping DSCR underwriting

DSCR loans once allowed coverage ratios as low as 0.65, but 2023-24 vintage stress is pushing lenders toward stricter underwriting and interest-only structures.

By Brad Finkelstein
Originations Editor

6h ago
Policy, Politics and Regulation (Leaders)

CFPB makes changes to complaint portal, citing abuse

The Consumer Financial Protection Bureau is overhauling its consumer complaint portal after receiving 6.6 million complaints last year, more than double the 3.2 million in 2024, citing abuse by credit repair firms and social media influencers.

By Kate Berry
Reporter

June 25
FDIC

FDIC proposes slim resolution plans, lower insurance fees

The Federal Deposit Insurance Corp. issued proposals Thursday that would reduce planning requirements for big banks and slash deposit insurance prices, citing the financial health of the Deposit Insurance Fund.

By Ebrima Santos Sanneh
Reporter

June 25

Load More