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Citigroup Commercial Mortgage Trust 2008-C7 Class J Rating Lowered To 'D (sf)' Jun 11 Product Image

Citigroup Commercial Mortgage Trust 2008-C7 Class J Rating Lowered To 'D (sf)' Jun 11

  • Published: June 2011
  • Standard & Poors

Abstract
OVERVIEW We lowered our rating on class J from Citigroup Commercial Mortgage Trust 2008-C7 to 'D (sf)' due to a principal loss. NEW YORK (Standard & Poor's) June 16, 2011--Standard & Poor's Ratings Services today lowered its rating to 'D (sf)' on the class J commercial mortgage pass-through certificates from Citigroup Commercial Mortgage Trust 2008-C7, a U.S. commercial mortgage-backed securities (CMBS) transaction. The downgrade follows a principal loss to the class J certificates, which was detailed in the June 10, 2011, remittance report. Class J experienced a 5.9% loss of its $16.2 million original balance. The class K, L, and M certificates, which Standard & Poor's had previously lowered to 'D (sf)', have lost 100% of their respective opening balances....

Companies mentioned in this report are: Citigroup Commercial Mortgage Trust 2008-C7
Action: Downgraded

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Citigroup Commercial Mortgage Trust 2008-C7

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