Class L of J.P. Morgan Chase Commercial Mortgage Securities Corp. series 2006-FL2 has been placed on Rating Watch Negative by Fitch Ratings. Fitch also affirmed the ratings on 14 other classes in the transaction. The negative rating action was attributed to the forthcoming maturity risk associated with one loan, the SOMA Portfolio, which is secured by four hotels in San Francisco. "Three extension options are available ... [but the] loan does not currently meet the performance hurdle required for extension," the rating agency said.
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