Fitch Takes Ratings Actions on Holliday Fenoglio Fowler, L.P.'s CMBS Servicer Ratings

NEW YORK--(BUSINESS WIRE)--Fitch Ratings upgrades Holliday Fenoglio Fowler, L.P.'s (HFF) commercial mortgage-backed securities (CMBS) primary servicer rating to 'CPS2' from 'CPS2-'. Additionally, Fitch affirms its special servicer rating of 'CSS3'.

HFF's primary servicer rating is based on its experienced and tenured management and staff. It also takes into account HFF's long history as a commercial mortgage primary servicer, including for life insurance companies, Freddie Mac and CMBS loans. The upgrade reflects HFF's strong presence in the CMBS 2.0 market, its extensive relationships with key CMBS lenders, and demonstrated ability to effectively primary service CMBS loans.

The special servicer rating is based on the company's ability to workout, manage, and resolve commercial mortgage loans for insurance company and other institutional lenders. Both ratings reflect the broad real estate resources of HFF.

As of Sept. 30, 2011, HFF's servicing portfolio consisted of 2,091 commercial mortgage loans totaling $26.0 billion, of which 615 loans totaling $9 billion was CMBS. As of the same date, HFF's special servicing portfolio consisted of 37 loans totaling $410.6 million. HFF does not currently specially service any securitized loans.

The servicer rating is based on the methodology described in Fitch's reports 'U.S. Commercial Mortgage Servicer Rating Criteria,' dated Feb. 18, 2011, and 'Global Rating Criteria for Structured Finance Servicers' dated Aug. 16, 2010, available on Fitch's web site www.fitchratings.com.

Additional information is available at 'www.fitchratings.com'. The ratings above were solicited by, or on behalf of, the issuer, and therefore, Fitch has been compensated for the provision of the ratings.

Applicable Criteria and Related Research:

--'U.S. Commercial Mortgage Servicer Rating Criteria' (Feb. 18, 2011);

--'Global Rating Criteria for Structured Finance Servicers' (Aug. 16, 2010).

Applicable Criteria and Related Research:

U.S. Commercial Mortgage Servicer Rating Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=584005

Global Rating Criteria for Structured Finance Servicers

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=547305

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