TEXT-Fitch assigns Institutional Mortgage Capital 2013-3 final ratings

Fri Feb 15, 2013 1:27pm EST

Feb 15 - Fitch Ratings has assigned the following ratings and Rating
Outlooks to Institutional Mortgage Capital, LP's Commercial Mortgage
Pass-Through Certificates, Series 2013-3:

--$37,370,000 class A-1 'AAAsf'; Outlook Stable;
--$96,370,000 class A-2 'AAAsf'; Outlook Stable;
--$81,600,000 class A-3 'AAAsf'; Outlook Stable;
--$5,321,000 class B 'AAsf'; Outlook Stable;
--$8,451,000 class C 'Asf'; Outlook Stable;
--$6,886,000 class D 'BBBsf'; Outlook Stable;
--$3,756,000 class E 'BBB-sf'; Outlook Stable;
--$3,129,941a class F 'BBsf'; Outlook Stable;
--$2,503,953a class G 'Bsf'; Outlook Stable.

(a) Non-offered certificates. All currencies are in Canadian dollars (CAD).

Fitch does not rate the $250,395,295 (notional) interest-only class X or the
non-offered $5,007,401 class H certificate.

A detailed description of Fitch's rating analysis including key rating drivers,
stresses, rating sensitivity, analysis, model, criteria application and data
adequacy is available in Fitch's presale report dated Jan. 30, 2013, at
www.fitchratings.com

Additional information is available at 'www.fitchratings.com'. The ratings above
were solicited by, or on behalf of, the issuer, and therefore, Fitch has been
compensated for the provision of the ratings.

Applicable Criteria and Related Research:
--'Criteria for Analyzing Multiborrower U.S. Commercial Mortgage Transactions'
(Aug. 8, 2012);
--'Global Structured Finance Rating Criteria' (June 6, 2012);
--'U.S. Commercial Mortgage Servicer Rating Criteria' (Feb. 18, 2011);
--'U.S. Fixed-Rate Multiborrower CMBS Surveillance and Re-REMIC Criteria' (Dec.
18, 2012);
--'Counterparty Criteria for Structured Finance Transactions' (March 12, 2012).

Applicable Criteria and Related Research:
Criteria for Analyzing Multiborrower U.S. Commercial Mortgage Transactions
Global Structured Finance Rating Criteria
U.S. Commercial Mortgage Servicer Rating Criteria
U.S. Fixed-Rate Multiborrower CMBS Surveillance and Re-REMIC Criteria
Counterparty Criteria for Structured Finance Transactions
FILED UNDER:
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