Fitch Affirms JP Morgan Commercial Mortgage Finance Corp. Series 2000-C10.NEW YORK -- Fitch Ratings has affirmed JP Morgan Commercial Mortgage Finance Corp., commercial mortgage pass-through certificates, series 2000-C10 as follows: --$434.3 million class A-2 at 'AAA'; --Interest only class X at 'AAA'; --$31.4 million class B at 'AAA'; --$29.5 million class C at 'AAA'; --$9.2 million class D at 'AAA'; --$23.1 million class E at 'AAA'; --$10.2 million class F at 'AAA'; --$14.8 million class G at 'A'; --$14.8 million class H at 'BBB-'; --$7.4 million class J 'at BB-'; --$5.5 million class K at 'B+'; --$ 7.4 million class L at 'B-'. The $1.4 million class M remains at 'C/DR5'. Fitch does not rate the $1.5 million class Q. Class A1 has been repaid in full. The affirmations are a result of stable pool performance, limited pay down (0.4%), and the additional defeasance of three loans (5.3%) since Fitch's last rating action. As of the December 2007 distribution date, the transaction's aggregate principal balance has been reduced 20.3% to $589.7 million from $740.1 million at issuance. In total, 47 loans (44.7%) have defeased. There are no delinquent or specially serviced loans. There are no loan maturities or anticipated repayment dates (ARD Ard (ärd), in the Bible. 1 Son of Benjamin. 2 Benjamite, perhaps the same as (1.) An alternate form is Addar. ) in 2008 and 40 non-defeased loans (37.8% of the pool) mature or have ARDs in 2009. Interest rates on the non-defeased loans range from 7.570% to 9.875% with a weighted average coupon Weighted average Coupon The weighted average of the gross interest rates of mortgages underlying a pool as of the pool issue date; the balance of each mortgage is used as the weighting factor. (WAC WAC (Women's Army Corps), U.S. army organization created (1942) during World War II to enlist women as auxiliaries for noncombatant duty in the U.S. army. Before 1943 it was known as the Women's Auxiliary Army Corps (WAAC). Its first director was Oveta Culp Hobby. ) of 8.34%. Of the 96 remaining non-defeased loans, 86 (91.8%) reported year-end (YE) 2006 financials with a weighted average debt service coverage ratio The debt service coverage ratio (DSCR), or debt service ratio, is the ratio of net operating income to debt payments on a piece of investment real estate. It is a popular benchmark used in the measurement of an income-producing property’s ability to produce (WADSCR WADSCR Weighted Average Debt Service Coverage Ratio ) of 1.43 times (x). Fitch's Distressed Recovery (DR) ratings are designed to estimate recoveries on a forward-looking basis while taking into account the time value of money. Fitch's rating definitions and the terms of use Terms of Use are rules set up by the owner of an intellectual property or service to govern how they may be legally used. In many cases, terms of service are used as a contractual agreement between a company and users of a service they provide. of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures Policies and Procedures are a set of documents that describe an organization's policies for operation and the procedures necessary to fulfill the policies. They are often initiated because of some external requirement, such as environmental compliance or other governmental are also available from the 'Code of Conduct' section of this site. |
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