Report title: Windermere XI CMBS Plc (UK CMBS)
from Fitch Research
15 page (8452 word) report published Aug 07, 2007

Price $55.00 available for immediate download
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...This transaction is a GBP###.#m securitisation of eight commercial real estate loans originated by Lehman Brothers Commercial Paper Inc (LB, rated AA-/F#+ ). The loans are secured by a mixture of medium to high quality commercial properties located in the UK, with a concentration in central London s City, West End and Mid Town sub-markets (##.#% of the pool s open market value) and particularly grade A office properties (##%). Fitch Ratings has assigned final ratings to the notes to be issued by Windermere XI CMBS Plc (the issuer) as indicated at left. The final ratings reflect the credit enhancement provided to each class by the subordination of classes junior to it, the positive and negative features of the underlying real estate collateral and the integrity of the legal and financial structures. They also address the likelihood that investors will recei ve timely payment of interest and ultimate repayment of principal by the final legal maturity date (April ####). Interest...

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