NEW YORK–(BUSINESS WIRE)–Fitch Ratings has downgraded five and affirmed 17 classes of Merrill Lynch Mortgage Trust (MLMT) series 2008-C1, commercial mortgage pass-through certificates. A detailed list of rating actions follows at the end of this press release. KEY RATING DRIVERS The downgrades reflect increased loss expectations. The downgrade to class M is a result of incurred losses. Fitch modeled losses of 12.3% of the remaining pool; expected losses on the original pool balance total 9.8%
