Moody's Downgrades GE Mortgage Certificates

Moody's Investors Service has downgraded two classes of GE Mortgage Capital Commercial Mortgage Corp. commercial mortgage pass through certificates, series 2000-1.The downgrades were as follows: class H, to B1 from Ba2 and class I, to B2 from Ba3. In addition, Moody's affirmed the ratings on classes A-1, A-2, X, B, C, D, E and F. The downgrades are of classes H and I and are due to realized losses, anticipated losses on specially serviced loans and a change in the loan-to-value dispersion in the transaction, according to Moody's. Recently, Moody's found that the pool had a LTV greater than 100%. Only 0.3% of the pool had an LTV higher than 100% at securitization, the rating agency said. Moody's can be found online at http://www.moodys.com.