Fitch Affirms J.P. Morgan Series 2000-C9; Assigns Outlooks

CHICAGO--(Business Wire)--
Fitch Ratings affirms J.P. Morgan Commercial Mortgage Finance Corp.'s mortgage
pass-through certificates, series 2000-C9, and assigns Rating Outlooks as
follows:

--$318.7 million class A-2 at 'AAA'; Outlook Stable;

--Interest-only class X at 'AAA'; Outlook Stable;

--$36.6 million class B at 'AAA'; Outlook Stable;

--$38.7 million class C at 'AAA'; Outlook Stable;

--$10.2 million class D at 'AAA'; Outlook Stable;

--$28.5 million class E at 'AAA'; Outlook Stable;

--$14.3 million class F at 'AAA'; Outlook Stable;

--$14.3 million class G at 'AA'; Outlook Stable;

--$20.4 million class H at 'BB+'; Outlook Negative.

Fitch does not rate the $16.4 million class J certificates. The class K and
class NR certificates have been reduced to zero due to realized losses. The
class A-1 has been paid in full.

The rating affirmations are due to stable overall pool performance since the
last Fitch rating action. In total 62.8% of the pool has defeased, including
nine of the top 10 loans (31%). As of the February 2009 distribution date, the
pool has paid down 38.8% to $498 million from $814.4 million at issuance. Rating
Outlooks reflect the likely direction of any rating changes over the next one to
two years.

There are two specially serviced loans (1%). The largest specially serviced
asset (0.8%) is an office property in Warwick, RI. The loan is 90+ days
delinquent. The property lost three tenants, accounting for 68% of the net
rentable area, in 2008 due to lease expirations.

The second specially serviced asset (0.3%) is a retail property in Park Ridge,
IL. The loan transferred to the special servicer in March 2009. The loan is
current but has a maturity date in April 2009. The property is fully occupied by
one tenant which has a lease expiration in June 2009.

Of the non-defeased loans, approximately 92% have a maturity or anticipated
repayment date in the next 12 months. The weighted average debt service coverage
ratio and interest rate for these loans were 1.40 times (x) and 8.15%,
respectively. Fitch assigns a Negative Outlook to class H due to the near-term
maturity concentration.

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, Chicago
Gregg Katz, 312-606-2343
Britt Johnson, 312-606-2341
or
Media Relations:
Sandro Scenga, 212-908-0278, New York
Email: sandro.scenga@fitchratings.com

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