Fitch Downgrades LB 2000-LLF C7 Class L & M; Removed From Rating Watch Negative.Business Editors NEW YORK--(BUSINESS WIRE)--March 10, 2003 Fitch Ratings Fitch Ratings An international rating agency for financial institutions, insurance companies, and corporate, sovereign, and municipal debt. Fitch Ratings has headquarters in New York and London and is wholly owned by FIMALAC of Paris. downgrades Lehman Brothers floating-rate commercial mortgage pass-through certificates, series 2000-LLF C7 $46.9 million class L to 'BB+' from 'BBB-' and $25.2 million class M to 'B+' from 'BB-'. In addition, the classes have been removed from Rating Watch Negative. The actions are due to a decline in the operating performance of the Boykin Hotel Portfolio loan. The Fitch adjusted 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 for the trailing twelve months In commerce, the trailing twelve months (TTM) is a moving measurement (for example, an average or a sum) over the 12 previous months, using the most recent data available. Also sometimes known as last twelve months (LTM). ended Jan. 31, 2003 was 1.42 times (x) compared to 1.65x at issuance. For more information, please refer to the press release dated Dec. 2, 2002 ('Fitch Dwngr Lehman Brothers 2000-LLF C7 Comm Mtge P-T P-T Pressure-Temperature (thermodynamics diagram) Ctfs & Places Three Classes on RWN') available on the Fitch Ratings web site at 'www.fitchratings.com'. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion