Forty-seven classes in three commercial mortgage-related transactions from three issuers have been downgraded by Standard & Poor's Ratings Services. The downgrades affected 18 classes from Ansonia CDO 2006-1 Ltd., 16 classes from Greenwich Capital Commercial Mortgage Trust 2007-RR2, and 13 classes from GS Mortgage Securities Corp. II's series 2006-RR3. All the classes were removed from CreditWatch with negative implications. The downgrades were based on a "full analysis of the transaction's assets and liabilities" that incorporated S&P's revised recovery rate assumptions for commercial mortgage-backed securities, the rating agency said. S&P can be found online at http://www.standardandpoors.com.
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