NEW YORK–(BUSINESS WIRE)–Fitch Ratings has taken various rating actions on already distressed U.S. commercial mortgage-backed securities (CMBS) bonds. Fitch downgraded 23 bonds in 13 transactions to ‘D’, as the bonds have incurred a principal write-down. The bonds were all previously rated ‘CCC’ or below, which indicates that losses were possible. Of these 23 bonds downgraded to ‘D’, the ratings on two of the classes (in two separate transactions) have simultaneously been withdrawn, as the on
