Fitch Places 33 Classes Of COMM 2006-FL12 On Watch Negative

Posted by Orb Staff on September 11, 2009 No Comments
Categories : Commercial Mortgage

Fitch Ratings has placed 33 classes of COMM Mortgage Trust 2006-FL12 commercial mortgage pass-through certificates on Rating Watch Negative.

The Negative Watch is due to Fitch's expectation that hotel performance will continue to be impacted by the economic downturn. The pool is composed of 61% hotel loans.

While year-end (YE) 2008 performance had generally declined only slightly from YE 2007, Fitch expects second-quarter and YE 2009 performance to show significant declines. In addition, five of the eight hotel loans in the pool are collateralized by resort properties, which have been among the most severely impacted by the downturn.

SOURCE: Fitch Ratings

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