Class M of Lehman Brothers Floating Rate Commercial Mortgage Trust, series 2006-CCL C2, has been downgraded from Baa3 to Ba2 by Moody's Investors Service, and the ratings of classes K, L, and M have been placed on review for possible downgrade.In addition, Moody's upgraded three classes and affirmed the ratings on 12 other classes in the deal. The negative rating actions were attributed to the poor performance of the Old Salem, The Crossings at Otay Ranch, and the Walker Square & Riverbend loans. The certificates are collateralized by 12 senior participation interests secured by 14 properties.
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