Class L of GE Capital Commercial Mortgage Corp. commercial mortgage pass-through certificates, series 2000-1, has been downgraded from B-minus to CCC by Fitch Ratings.The rating agency also affirmed the ratings on 13 other classes in the deal. Fitch attributed the downgrade chiefly to expected losses on two specially serviced loans, which would cause a reduction in credit enhancement levels. The certificates are collateralized by 102 commercial and multifamily mortgages, with significant concentrations in retail (24%) and office (24%), Fitch said. The rating agency can be found on the Web at http://www.fitchratings.com.
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