GMAC CMBS Class Downgraded

Published October 13, 2006, 2:00 p.m. EDT

1 Min Read

Class F of GMAC Commercial Mortgage Securities Inc.'s mortgage pass-through certificates, series 2002-FL-1, has been downgraded from BB to B-minus by Fitch Ratings.In addition, Fitch assigned a Distressed Recovery rating of DR1 to the class. The rating on one other Fitch-rated class in the deal was affirmed. The downgrade was attributed to the pending sale of the Stevens-Arnold Building note, the only remaining loan in the pool, which Fitch said it expects to result in a loss to the trust.

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