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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

  • ID: 1828122
  • 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

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

Citigroup Commercial Mortgage Trust 2008-C7

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