Fitch Eyes Chase CMBS Classes

Classes D, E, and F of Chase Commercial Mortgage Securities Corp.'s mortgage pass-through certificates, series 2000-FL1, have been placed on Rating Watch Negative by Fitch Ratings.Fitch also placed two classes in the deal on Rating Watch Evolving and affirmed the rating on one other class. Fitch attributed the Rating Watch actions to uncertainty about the ability of the remaining four loans in the pool to pay off at maturity. "The largest loan (52.5%) is collateralized by an office property in Metairie, La., that suffered damage from Hurricane Katrina," the rating agency said. "The other three loans (47.5%) have all seen declines in occupancy and net cash flow since issuance."