Three classes of GE Capital Commercial Mortgage Corp. commercial mortgage pass-through certificates have been downgraded by Fitch Ratings. The downgrades were as follows: class H, from B-plus to B; class I, from B-minus to CCC/DR2; and class J, from C/DR5 to C/DR6. Fitch also affirmed the ratings on eight other classes in the transaction. The downgrades were attributed to increased loss expectations on a specially serviced loan and potential future defaults. The specially serviced asset is collateralized by a 292-unit multifamily property in Dallas that is in foreclosure, the rating agency said.
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