Fitch Ratings downgrades nine classes of Hometown Commercial Trust, Series 2007-1 as follows:
--$2.1 million class D to 'D/RR6' from 'C/RR6';
--$0 class E to 'D/RR6' from 'C/RR6';
--$0 class F to 'D/RR6' from 'C/RR6';
--$0 class G to 'D/RR6' from 'C/RR6';
--$0 class H to 'D/RR6' from 'C/RR6';
--$0 class J to 'D/RR6' from 'C/RR6';
--$0 class K to 'D/RR6' from 'C/RR6';
--$0 class L to 'D/RR6' from 'C/RR6';
--$0 class M to 'D/RR6' from 'C/RR6'.
Fitch also revises the Recovery Rating of the following class:
--$4.6 million class C to 'CCC/RR6' from 'CCC/RR5';
The downgrades are the result of realized losses to the trust which have either caused the class to incur principal losses or reduced the class balance to zero.
Fitch expects to resolve the Rating Watch status of classes A, B, and X shortly with a prospective review of the remaining collateral which may result in significant downgrades to the remaining classes.
Additional information is available at www.fitchratings.com.
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Contacts:
Fitch Ratings, New York
Lisa Cook, +1-212-908-0665
Adam Fox,
+1-212-908-0869
or
Sandro Scenga, +1-212-908-0278 (Media
Relations)
sandro.scenga@fitchratings.com