Three classes of LBUBS 2005-C7 commercial mortgage pass-through certificates have been downgraded by Fitch Ratings. The downgrades were as follows: class P, from B-plus to B; class Q, from B to B-minus; and class S, from B-minus to CCC. Fitch also affirmed the ratings on 22 classes in the transaction. The downgrades were attributed to projected losses on the three specially serviced loans, which are secured by: a 334-unit multifamily property in Detroit, an 83-unit multifamily property in Cleveland, and an office building in Reading, Pa.
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