Three classes from three single-asset commercial mortgage-backed securities deals have been placed on Rating Watch Negative by Fitch Ratings due to interest shortfalls related to terrorism insurance costs.The affected securities are class F of 280 Park Avenue Trust 2001-XL280; class F of 1345 Avenue of the Americas Trust 2000-XL1345; and class E of 1251 Avenue of the Americas Trust 1999-XL1251. Fitch said they were placed on watch as a result of interest shortfalls stemming from expense reimbursements related to terrorism insurance costs incurred by Wells Fargo Bank, the master servicer for each transaction. Fitch can be found online at http://www.fitchratings.com.
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