Peachtree Classes Downgraded

Six classes in Peachtree Franchise Loan LLC 1999-A have been downgraded by Fitch Ratings.The downgrades were as follows: classes A and A-X, from AAA to A; class B, from AA to BBB; class C, from BBB-minus to B; class D, from B to CCC; and class E, from CCC to CC. All the classes were removed from Rating Watch Negative. The rating agency said $15 million of the $25 million in cumulative defaults in the deal is due to a single large borrower, Westwind ALWA. "The Westwind loan was restructured in September 2001, resulting in a $6.2 million writedown to the trust," Fitch said. "The loan was returned to default status in September 2002, and it is expected that the remaining $8.3 million will be completely written down." Fitch can be found online at http://www.fitchratings.com.