Three classes of LB Commercial Conduit Mortgage Trust II's commercial pass-through certificates, series 1996-C2, have been downgraded by Fitch Ratings.The downgrades were as follows: class F, from BB to B-plus; class G, from CCC to D; and class H, from CC to D. In addition, class E was placed on Rating Watch Negative, and the ratings on five other classes in the deal were affirmed. The downgrades were attributed to expected losses on loans in special servicing, which the rating agency said are likely to "deplete the balance of class G and severely impact class H within the next 30-60 days."
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