Class N of Morgan Stanley Capital I Inc.'s commercial mortgage pass-through certificates, series 1999-CAM1, has been downgraded from CCC to C by Fitch Ratings.The rating agency attributed the action to expected losses on a specially serviced loan on an office property in Mountain View, Calif., that is more than 90 days delinquent. "The property became 100% vacant in August 2002 when the sole tenant, Global Workplaces, vacated the property and rejected its lease in bankruptcy," Fitch said.
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