Morgan CMBS Pass-Throughs Downgraded

Published May 16, 2008, 1:00 p.m. EDT

1 Min Read

Two classes of Morgan Stanley Capital I Trust commercial mortgage pass-through certificates, series 2006-IQ12, have been downgraded by Fitch Ratings. Class M was downgraded from BB to BB-, and class N was downgraded from BB- to B. Fitch also affirmed the ratings on 23 other classes in the transaction. The downgrades were attributed to loss expectations on three specially serviced loans: two on separate multifamily properties in Memphis and a third on a multifamily property in Chicago.

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