Fitch Withdraws Ratings on Two Classes of FMC Real Estate CDO 2005-1, Ltd.

NEW YORK--()--Fitch Ratings has withdrawn the ratings on two classes of FMC Real Estate CDO 2005-1, Ltd. (FMC 2005-1). A full list of the withdrawn classes follows at the end of this press release.

KEY RATING DRIVERS

The rating withdrawals are the result of partial note cancellations. According to the asset manager, Five Mile Capital, the noteholders surrendered a portion of the class E and class F notes to the trustee for cancellation.

RATING SENSITIVITIES

The transaction has been liquidated at the August 2015 payment date pursuant to an optional redemption. All classes have either been paid in full or cancelled.

DUE DILIGENCE USAGE

No third party due diligence was provided or reviewed in relation to this rating action.

Fitch has withdrawn the following ratings:

--Class E at 'CCCsf';

--Class F at 'CCCsf'.

The class A-1, A-2, B, C and D certificates have paid in full. The ratings on classes G and H were previously withdrawn. Fitch does not rate the preferred shares.

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

Applicable Criteria

Global Structured Finance Rating Criteria (pub. 06 Jul 2015)

https://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=867952

Surveillance Criteria for U.S. CREL CDOs (pub. 24 Nov 2014)

https://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=811268

Additional Disclosures

Solicitation Status

https://www.fitchratings.com/gws/en/disclosure/solicitation?pr_id=990350

Endorsement Policy

https://www.fitchratings.com/jsp/creditdesk/PolicyRegulation.faces?context=2&detail=31

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.

Contacts

Fitch Ratings
Primary Analyst
Karen Trebach
Senior Director
+1-212-908-0215
Fitch Ratings, Inc.
33 Whitehall Street
New York, NY 10004
or
Media Relations:
Sandro Scenga, +1 212-908-0278
sandro.scenga@fitchratings.com

Contacts

Fitch Ratings
Primary Analyst
Karen Trebach
Senior Director
+1-212-908-0215
Fitch Ratings, Inc.
33 Whitehall Street
New York, NY 10004
or
Media Relations:
Sandro Scenga, +1 212-908-0278
sandro.scenga@fitchratings.com