Morgan Stanley CMBS Class Downgraded

Published May 02, 2008, 1:00 p.m. EDT

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Class M of Morgan Stanley Capital I Inc. series 2005 XLF commercial mortgage pass-through certificates has been downgraded from BBB-minus to BB-plus by Fitch Ratings and removed from Rating Watch Negative. Fitch also affirmed the ratings on seven other classes in the transaction. The downgrade was based on "continued uncertainty regarding leasing" in connection with the Dominion Tower loan, the rating agency said. Dominion Tower is an office building in Pittsburgh that is only 42% occupied, Fitch said.

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