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Banc of America Commercial Mortgage Loan Trust 2008-LS1 Ratings Lowered On 10 Classes; Eight Others Affirmed Jan 12
Standard & Poors, Jan 2012
Abstract
OVERVIEW We lowered our ratings on 10 commercial mortgage pass-through certificates from Banc of America Commercial Mortgage Loan Trust 2008-LS1, a U.S. CMBS transaction. Concurrently, we affirmed our ratings on eight other classes from the same transaction The downgrades reflect deterioration in the credit characteristics of the pool collateral, which under our 'AAA' scenario yielded a DSC and LTV ratio of 0.81x and 171.7%, respectively. The downgrades further reflect credit support erosion that we anticipate will occur upon the eventual resolution of 22 of the transaction's 23 specially serviced assets, as well as six other loans that we determined to be credit-impaired. We lowered our ratings on the class F, G, H, and J certificates to 'D (sf)' because we...
Companies mentioned in this report are: Banc of America commercial Mortgage Loan Trust 2008-LS1
Action: Affirmed
Action: Downgraded
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Research type: News
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