Class E of LB Commercial Conduit Mortgage Trust II's commercial pass-through certificates, series 1996-C2, has been removed from Rating Watch Negative by Fitch Ratings.The class had been placed on Rating Watch Negative in December due to expected interest shortfalls from the recovery of servicer advances. "Since December 2004, four real-estate-owned assets have been liquidated from the transaction," Fitch reported. "Liquidation proceeds have been sufficient to repay servicing advances without the need for interest shortfalls."
LB CMBS Class Off Watchlist
June 16, 2005, 2:00 p.m. EDT 1 Min Read
