Morgan Stanley CMBS Classes Downgraded

Published April 23, 2008, 1:00 p.m. EDT

1 Min Read

Two classes of Morgan Stanley Capital I Inc. series 2006-XLF commercial mortgage-backed securities have been downgraded by Fitch Ratings and removed from Rating Watch Negative. Class M was downgraded from BBB-minus to BB-plus, and class N-RQK was downgraded from BBB-minus to BB-minus. Fitch also upgraded one class and affirmed the ratings on 12 other classes in the transaction. The downgrades were attributed to the transfer of the Holiday Inn-Columbus loan to special servicing and the declining performance of the ResortQuest Kauai and Laurel Mall loans.

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