Opryland Classes Downgraded

Two classes of Opryland Hotel Trust's commercial mortgage pass-through certificates, series 2001-OPRY, have been downgraded by Fitch Ratings.Class C was downgraded from A to A-minus, and class E was downgraded from BBB-minus to BB and removed from Rating Watch Negative. In addition, the ratings on three other classes of the deal were affirmed. The certificates represent the beneficial ownership interest in the trust, which consists of the fee interest in the 2,883-room Opryland Hotel/Convention Center in Nashville, Tenn. Fitch said the downgrades resulted from the decline in performance at the property since closing. The underwritten net cash flow, as calculated by Fitch based on trailing 12-month financial statements, had declined 45% as of Sept. 30, the rating agency said.