Classes K-WS and L-WS of COMM 2000-FL3’s commercial mortgage pass-through certificates have been placed on Rating Watch Negative by Fitch Ratings.In addition, the ratings on 24 other classes in the deal were affirmed. "Fitch is concerned about the concentration of retail and office property types in the transaction," the rating agency said. "Fitch resized each loan based on current Fitch adjusted cash flow and on original sizing hurdles, with credit given for the pooling benefits of the A notes." The resulting levels were not adequate for classes K-WS and L-WS, which will remain on watch "until the expenses and occupancy levels of the Trump Building stabilize to the levels prior to 2001," Fitch said.
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