Fitch Affirms Prudential Mortgage Capital Funding ROCK 2001-C1
--$56.5 million class A-1 at 'AAA';
--$536.1 million class A-2 at 'AAA';
--Interest-only class X-1 at 'AAA';
--Interest-only class X-2 at 'AAA';
--$27.2 million class B at 'AAA';
--$38.6 million class C at 'AAA';
--$9.1 million class D at 'AAA';
--$11.4 million class E at 'AAA';
--$15.9 million class F at 'AAA';
--$13.6 million class G at 'AAA';
--$13.6 million class H at 'AA';
--$22.7 million class J at 'BBB+';
--$6.8 million class K at 'BBB-';
--$4.5 million class L at 'BB+';
--$9.1 million class M at 'B';
--$4.5 million class N at 'B-'.
Fitch does not rate the $7.6 million class O certificates.
The rating affirmations are the result of stable performance. As of the October 2007 distribution date, the pool's aggregate principal balance has decreased 14.4%, to $777.2 million from $908.2 million at issuance. In total, 43% of the pool has defeased. There are currently no loans in special servicing.
One loan, the RREEF America II Portfolio, representing approximately 11.7% of the pool, maintains an investment grade shadow rating due to stable performance. The $155.4 million loan is split into an A and B note. The $91 million A note, which is included in this transaction, and the $64.4 million B note is held outside the trust. The loan is secured by a portfolio of industrial, retail, office and multifamily properties located in Delaware, Texas, California, Florida, Georgia, and Arizona. There is approximately 3.7 million square feet (sf) of commercial space and 176 multifamily units. The weighted average portfolio occupancy is 97.4% as of June 2007.
Fitch's rating definitions and the terms of use of such ratings are available on the agency's public site, . 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.
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