Class J of GMAC Commercial Mortgage Securities Inc. series 1997-C1 has been placed on Rating Watch Negative by Fitch Ratings.Fitch said the rating action was due to interest shortfalls and an increased amount of loans of concern, including one involving a Kmart store whose lease was recently rejected. The interest shortfalls result mainly from appraisal subordinate entitlement reductions stemming from appraisal reductions on two specially serviced loans, the rating agency said.
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