JPMorgan Chase CMBS Classes Downgraded

Fitch Ratings has downgraded three classes of J.P. Morgan Chase Commercial Mortgage Securities Corp.'s commercial mortgage pass-through certificates, series 2001-CIBC1.The downgrades were as follows: class K, from B-plus to B-minus; class L, from B to CC/DR4; and class M, from CCC/DR4 to C/DR6. Fitch also affirmed the ratings on 11 other classes in the deal. The rating agency attributed the downgrades to expected losses on six specially serviced loans that would fully deplete the credit enhancement of class M and hurt the other two classes. Fitch can be found online at http://www.fitchratings.com.