Fitch Assigns First CMBS Large Loan Special Servicer Rating to Green Loan Services, LLC

NEW YORK--(Business Wire)--
Fitch Ratings assigns Green Loan Services LLC (Green) a commercial
mortgage-backed securities (CMBS) large loan special servicer rating of
'CLLSS2-'. The rating reflects the extensive large loan commercial real estate
workout experience of the company. This is the first assignment of this rating
which was introduced in recently published Fitch criteria. While the company's
experience with large loans is primarily in Manhattan the group has worked out
and restructured large loans in other metropolitans such as San Francisco,
Boston, Los Angeles, Chicago and Washington DC. Green's senior managers average
20+ years of related experience. The CLLSS rating will be used by Green to allow
naming them special servicer on loans where the company holds either mezzanine
or B-Note positions or for a third party. The rating does not qualify an entity
to special service a pool of conduit loans, only single large loans within a
securitization.

While Green has a strong commercial real estate background, the company has very
limited CMBS experience. Fitch will closely monitor the firm during its first
year as a rated CMBS servicer to ensure that CMBS specific standards are met.
Green is currently named special servicer on four CMBS loans totaling $831
million. Fitch deems the special servicer rating of 'CSSLL2-' sufficient to meet
the requirements stated in current transaction documents as 'CSS2'.

Green is a wholly owned subsidiary of SL Green Realty Corp. (NYSE:SLG), a
self-administered and self-managed REIT based in New York City. SL Green was
formed in 1997 and primarily owns, acquires, manages and repositions office
properties located in Manhattan.

Fitch rates large loan commercial special servicers on a scale of 1 to 5, with 1
being the highest rating. Within each of these rating levels, Fitch further
differentiates ratings by plus (+) or and minus (-) as well as the flat rating.
For more information about Fitch commercial mortgage servicer ratings or rating
criteria, refer to the report titled 'U.S. Commercial Mortgage Servicer Rating
Criteria', dated June 19, 2009, available on Fitch's web site,
www.fitchratings.com.

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
Stephanie Petosa, +1-212-908-0720
Jennifer Story, +1-212-908-0302
Media Relations
Brian Bertsch, +1-212-908-0549
brian.bertsch@fitchratings.com

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