Two classes of Salomon Brothers Mortgage Securities VII Inc. commercial mortgage pass-through certificates, series 2000-C1, have been downgraded by Moody's Investors Service.Class M was downgraded from B2 to B3, and class N was downgraded from B3 to Caa2. In addition, Moody's upgraded five classes in the deal and affirmed the ratings on eight other classes. The rating agency attributed the downgrades to $12 million of realized losses and the dispersion of loan-to-value ratios. Approximately 8.7% of the pool has an LTV greater than 100%, Moody's said. The certificates are collateralized by 228 loans on properties in 36 states. Moody's can be found online at http://www.moodys.com.
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