Fitch Eyes TrizecHahn Classes

Classes E-3 and E-4 of TrizecHahn Office Properties Trust, series 2001-TZH, have been placed on Rating Watch Negative by Fitch Ratings due to deteriorating performance.The rating agency said the portfolio's stressed net cash flow had declined from $171.9 million at issuance to $155.9 million based on unaudited statements for the trailing 12 months ended March 31. The portfolio's average occupancy had fallen from 95% at issuance to 84%, Fitch reported.

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