Class L of Morgan Stanley Dean Witter Capital I Inc. commercial mortgage pass-through certificates, series 2000-LIFE1, has been downgraded from B to B-minus by Fitch Ratings.In addition, Fitch upgraded and removed five classes in the deal from Rating Watch Positive, upgraded two others, and affirmed the ratings on four classes. Fitch attributed the downgrade to expected losses on specially serviced loans. Four loans representing 3.4% of the pool are in special servicing, of which the largest (1.0%) is an office property in St. Paul, Minn., that is 30 days delinquent. The property is vacant and the special servicer is exploring workout options with the borrower, the rating agency reported. The second-largest specially serviced loan (0.7%) is an industrial property in New Orleans that was damaged as a result of Hurricane Katrina and is 60 days delinquent.
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