Fitch Affirms MSDW Mortgage Capital Owner Trust, Series 2000-F1

NEW YORK--(BUSINESS WIRE)--Fitch Ratings has taken the following rating actions on Morgan Stanley Dean Witter (MSDW) Mortgage Capital Owner Trust, Series 2000-F1 as follows:

--Class B affirmed at 'BBBsf'; Outlook to Positive from Stable;

--Class C affirmed at 'BBsf'; Outlook Stable;

--Class D affirmed at 'Bsf'; Outlook Stable;

--Class E affirmed at 'Csf'/RE 100%;

--Class F affirmed at 'Csf'/RE 100%;

--Class G affirmed at 'Csf'/RE 100%.

The affirmations reflect each class of notes' ability to pass stress case scenarios consistent with the current rating levels. The revision to a Positive Outlook for class B reflects the large concentration in defeased collateral which should provide for stable performance. Further, Fitch's current expectation is for full recovery of principal for classes E, F, and G.

Fitch will continue to monitor this transaction and may take additional rating action in the event of changes in performance and credit enhancement measures.

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.

The information used to assess these ratings was sourced from the issuer, periodic trustee reports, note valuation reports, and the public domain.

Applicable Criteria and Related Research:

--'Surveillance Criteria for Franchise Loan ABS' May 10, 2012;

--'Structured Finance Recovery Estimates for Distressed Securities' Nov. 16, 2012;

--'Global Structured Finance Rating Criteria' June 6, 2012.

Applicable Criteria and Related Research:

Global Structured Finance Rating Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=679923

Structured Finance Recovery Estimates for Distressed Securities

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=656557

Surveillance Criteria for Franchise Loan ABS

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=678776

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