Fitch Affirms COMM 2000-C1

NEW YORK--()--Fitch Ratings has affirmed seven classes of COMM commercial mortgage pass-through certificates, series 2000-C1, as follows:

--$3.8 million class G notes at 'CCCsf'; RE 100%;

--$6.4 million class H notes at 'Dsf'; RE 55%;

--Class J notes at 'Dsf'; RE 0%;

--Class K notes at 'Dsf'; RE 0%;

--Class L notes at 'Dsf'; RE 0%;

--Class M notes at 'Dsf'; RE 0%;

--Class N notes at 'Dsf'; RE 0%.

KEY RATING DRIVERS

The affirmations of the notes reflect the concentration risk with only two loans remaining, of which the largest represents 97% of the pool. The pool has experienced $45.2 million (5% of the original pool balance) in realized losses to date.

As of the March 2014 distribution date, the pool's aggregate principal balance has been reduced by 98.9% to $10.2 million from $897.9 million at issuance. Interest shortfalls are currently affecting the class H through O notes.

The largest loan remaining in the pool is a 147,000 square foot retail property located in Bloomingdale, IL. The collateral is one Carson Pirie Scott store located within a mall that has six anchor tenants. The debt service coverage ratio was 1.0x at year-end 2012.

RATING SENSITIVITIES

Class G may be subject to downgrades if the performance of the underlying collateral declines.

Fitch does not rate the class O notes and previously withdrew the ratings on the X notes. Classes A-1, A-2, B, C, D, E, and F notes have paid in full.

Additional information is available at 'www.fitchratings.com'.

Applicable Criteria and Related Research:

--'Global Structured Finance Rating Criteria' (May 24, 2013);

--'U.S. Fixed-Rate Multiborrower CMBS Surveillance and Re-REMIC Criteria' (Dec. 11, 2013).

Applicable Criteria and Related Research:

Global Structured Finance Rating Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=708661

U.S. Fixed-Rate Multiborrower CMBS Surveillance and Re-REMIC Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=724961

Additional Disclosure

Solicitation Status

http://www.fitchratings.com/gws/en/disclosure/solicitation?pr_id=826726

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Contacts

Fitch Ratings
Primary Surveillance Analyst
Matthew McGowan, +1 212-908-0733
Associate Director
Fitch Ratings, Inc.
One State Street Plaza
New York, NY 10004
or
Committee Chairperson
Mary MacNeill, +1 212-908-0785
Managing Director
or
Media Relations:
Sandro Scenga, +1 212-908-0278
sandro.scenga@fitchratings.com

Sharing

Contacts

Fitch Ratings
Primary Surveillance Analyst
Matthew McGowan, +1 212-908-0733
Associate Director
Fitch Ratings, Inc.
One State Street Plaza
New York, NY 10004
or
Committee Chairperson
Mary MacNeill, +1 212-908-0785
Managing Director
or
Media Relations:
Sandro Scenga, +1 212-908-0278
sandro.scenga@fitchratings.com