Fitch Affirms GE Capital Series 2001-2
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NEW YORK--(Business Wire)--Fitch Ratings affirms GE Capital Corp's commercial mortgage pass-through certificates, series 2001-2 as follows: --$22.2 million class A-2 at 'AAA'; --$35.5 million class A-3 at 'AAA'; --$519.5 million class A-4 at 'AAA'; --$40.1 million class B at 'AAA'; --$45.1 million class C at 'AAA'; --$12.5 million class D at 'AAA'; --$10 million class E at 'AAA'; --Interest-only classes X-1 and X-2 at 'AAA'; --$18.8 million class F at 'AA+'; --$11.3 million class G at 'AA-'; --$21.3 million class H at 'A-'; --$18.8 million class I at 'BBB'; --$5 million class J at 'BBB-'; --$7.5 million class K at 'BB+', --$12.5 million class L at 'B'. Fitch does not rate the $7.5 million class M and the $5.7 million class N. Class A-1 has been paid in full. The rating affirmations reflect stable performance of the pool since Fitch's last rating action. As of the January 2008 distribution date, the pool's aggregate certificate balance has decreased 20.9% to $792.9 million from $1,002.9 million at issuance. In total, 25 loans (25.1%) have defeased. There are currently no delinquent or specially serviced loans. The largest loan in the pool (5.3%) is secured by Holiday Inn West 57th street, a 596-room full service hotel located in New York, NY. As of September 30, 2007, RevPar was $168.59 with occupancy at 88%, compared to RevPar of $122.85 with the same occupancy rate at issuance. Fitch has identified eleven loans (6.7%) as Fitch loans of concern due to declined performance. The largest Fitch loan of concern is an office property located in Santa Monica, CA and had a 2Q07 servicer reported DSCR of 0.80x. Fitch's rating definitions and the terms of use of such ratings are available on the agency's public site, 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 Ratings, New York Amy Gan, +1-212-908-9143 Adam Fox, +1-212-908-0869 Sandro Scenga, +1-212-908-0278 (Media Relations) Copyright Business Wire 2008
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