Fitch Eyes ASC CMBS Class

Class A-5 of Asset Securitization Corp.'s commercial mortgage pass-through certificates, series 1995-MD IV, has been placed on Rating Watch Negative by Fitch Ratings.Fitch also upgraded one class in the transaction and affirmed the ratings on five others. "The placement of class A-5 on RWN is due to unpaid interest shortfalls in the amount of $12,422 and the expectation of future shortfalls to the class, currently estimated at $50,000," Fitch reported. "The class will remain on RWN until the final amount of the shortfalls can be determined and the overall impact on the respective certificates is fully analyzed." The current shortfalls are related to a class action lawsuit that the master servicer, GMAC, spread across 178 commercial mortgage-backed securities transactions, and to legal expenses associated with a separate issue tied to the Hardage hotel loan, the rating agency said. "None of the shortfalls described herein are credit related, and all are expected to be one-time occurrences," Fitch said. The rating agency can be found online at http://www.fitchratings.com.