JPMorgan Chase Commercial Mortgage Securities Corp. Series 2004-LN2 Class L Rating Lowered To 'D (sf)' Jun 11

Standard & Poors, June 2011

Abstract
OVERVIEW We lowered our rating on class L from JPMorgan Chase Commercial Mortgage Securities Corp.'s series 2004-LN2, a U.S. CMBS transaction, to 'D (sf)' due to a principal loss. NEW YORK (Standard & Poor's) June 17, 2011--Standard & Poor's Ratings Services today lowered its rating to 'D (sf)' on the class L commercial mortgage pass-through certificate from JPMorgan Chase Commercial Mortgage Securities Corp.?s series 2004-LN2, a U.S. commercial mortgage-backed securities (CMBS) transaction (see list). The downgrade follows a principal loss to the class L certificate, which was detailed in the June 15, 2011, remittance report. Class L experienced a 2.5% loss of its $4.7 million original balance. The class M certificate, which we previously downgraded to 'D (sf)', was also...

Companies mentioned in this report are: JPMorgan Chase Commercial Mortgage Securities Corp.
Action: Downgraded

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Research type: News
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JPMorgan Chase Commercial Mortgage Securities Corp.

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