Fitch Eyes BALL CMBS Class

Published January 17, 2008, 2:00 p.m. EST

1 Min Read

Class L of the BALL 2006-BIX1 commercial mortgage-backed securitization has been placed on Rating Watch Negative by Fitch Ratings. The negative rating action was taken due to the transfer of the Bassett Place Mall loan to special servicing, Fitch reported. The loan, secured by a regional mall in El Paso, Texas, was transferred on Jan. 10 as a result of maturity default. "Although the loan has three one-year extension options, it did not meet the debt service coverage ratio criteria," the rating agency said.

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