S&P Downgrades Chase CMBS Classes

The ratings on six classes of Chase Commercial Mortgage Securities Corp.'s commercial mortgage pass-through certificates series 2000-1 have been lowered by Standard & Poor's.The ratings were lowered as follows: class G, from BB-plus to BB; class H, from BB to BB-minus; class I, from BB-minus to B-plus; class J, from B to CCC-plus; class K, from B-minus to CCC; and class L, from CCC-plus to CCC-minus. S&P also affirmed the ratings on seven other classes in the deal. The rating agency said the lowered ratings reflect potential losses from one real-estate-owned loan and three loans in special servicing. The largest loan, secured by a 396,022-square-foot retail center in Pembroke Pines, Fla., totals $41.9 million (6.1% of the pool balance) and has been in REO status since February 2002, the rating agency said. Standard & Poor's can be found online at http://www.standardandpoors.com.