GE Cap CMBS Classes Downgraded

Two classes of GE Capital Commercial Mortgage Corp. commercial mortgage pass-through certificates, series 2000-1, have been downgraded by Moody's Investors Service.Class L was downgraded from B2 to B3, and class M was downgraded from B3 to Caa1. The rating agency also upgraded three classes and affirmed the ratings on 11 other classes in the deal. Moody's attributed the downgrades chiefly to realized and projected losses from specially serviced loans, and dispersion of loan-to-value ratios. The certificates are collateralized by 150 commercial and multifamily mortgages.