Seven classes of GMAC 2005-C1 commercial mortgage pass-through certificates have been downgraded by Fitch Ratings and removed from Rating Watch Negative. The downgrades were as follows: class H, from BBB-minus to BB-plus; class J, from BB-plus to BB; class K, from BB to B-plus; class L, from BB-minus to B-minus; class M, from B-plus to CCC/DR1; class N, from B to CC/DR3; and class O, from B-minus/DR1 to C/DR6. Fitch also affirmed the ratings on 15 other classes in the deal. The downgrades were attributed to projected losses on the largest specially serviced asset (1.7%), a parking garage in downtown Detroit.
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