Greenwich Cap Classes Downgraded

Published June 25, 2003, 2:00 p.m. EDT

1 Min Read

Classes A and IO of Greenwich Capital Acceptance Inc.'s commercial mortgage pass-through certificates, series 2001-ZC-1, have been downgraded from A1 to A3 by Moody's Investors Service.The transaction consists of a single fixed-rate mortgage loan secured by a mortgage on the Shore Club Hotel in the Art Deco Historic District of Miami Beach, Fla. Moody's said its ratings on the downgraded classes are based on a surety wrap provided by ZC Specialty Insurance Co., whose insurance financial strength rating was downgraded from A1 to A3 by the rating agency May 30.

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