JPMorgan CMBS Downgraded

Four classes of J.P. Morgan Commercial Mortgage Finance Corp.'s mortgage pass-through certificates, series 1999-C8, have been downgraded by Moody's Investors Service.The downgrades were as follows: class G, from Ba2 to Ba3; class H, from B1 to B3; class J, from Caa1 to Ca; and class K, from C to Caa2. Moody's also affirmed the ratings on six other classes in the deal and confirmed the ratings of two classes. The rating agency attributed the downgrades to a decline in pool performance. The certificates are collateralized by 123 mortgage loans secured by commercial and multifamily properties. Three loans have been liquidated from the pool, resulting in realized losses totaling approximately $18.2 million, Moody's said. Moody's can be found online at http://www.moodys.com.