Wachovia CMBS Class Downgraded

Class WA of Wachovia Bank Commercial Mortgage Trust commercial mortgage pass-through certificates, series 2006-WHALE 7, has been downgraded from Ba1 to Ba3 by Moody's Investors Service.In addition, Moody's upgraded one class, affirmed the ratings of 12 classes, and placed three classes on review for possible downgrade. The downgrade of the nonpooled class WA, which is secured solely by the Westin Aruba Resort & Spa Loan, was attributed to the poor performance of that loan. Classes BP-1, BP-2, and CM were placed on review for possible downgrade due to declines in property occupancy and net cash flow, the rating agency said. The certificates are collateralized by 14 loans ranging in size from less than 1.0% to 39.8% of the pool balance. The trust has not realized any losses since securitization and no loans are in special servicing.