...This transaction, which closed in April 2007, is the securitisation of eight commercial mortgage loans originated by Lehman Brothers Commercial Paper Inc. Since closing, the Fleetwalk loan (4.0% of the original loan balance) prepaid; combined with scheduled amortisation, this has reduced the outstanding note balance to GBP668.8m from GBP707.8m at closing. On 12 March 2009, Fitch Ratings downgraded the notes, as shown at left. The class A and B notes were placed on Outlook Negative, the class C notes remain on Rating Watch Negative, and the Outlooks on the class D and E notes were removed. The following key features determined this rating action. + ...
|
