GMAC CMBS Class Downgraded

Published May 05, 2005, 2:00 p.m. EDT

1 Min Read

Class O of GMAC Commercial Mortgage Securities Inc.'s mortgage pass-through certificates, series 2001-C1, has been downgraded from CCC to CC by Fitch Ratings.In addition, Fitch affirmed the ratings on 16 other classes in the transaction. The downgrade was attributed to expected losses from specially serviced loans that would reduce the credit enhancement level of the class. Four loans representing 2.9% of the transaction are currently in special servicing, with losses projected on three. The largest is a 375-unit multifamily property in Mesquite, Texas, that is real estate owned.

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