OREANDA-NEWS. Fitch Ratings has downgraded to 'Dsf' and subsequently withdrawn the ratings on the last remaining classes of Citigroup Commercial Mortgage Trust (CGCMT) commercial mortgage pass-through certificates, series 2006-FL2. There are no remaining assets in the transaction.

KEY RATING DRIVERS

The last remaining asset disposed as of the March 2015 distribution date. The Radisson Ambassador Plaza Hotel & Casino loan was resolved at a recovery of approximately 10% to the transaction. The asset is a 233-room, full-service hotel and approximately 15,000 square foot (sf) casino located in the Condado section of San Juan, Puerto Rico. Per the March 2015 distribution report, the principal proceeds were used to pay in full class J and partially pay off class K and RAM-1. Classes K, L, RAM-1, and RAM-2 incurred realized losses.

Fitch downgrades the following classes:
--\$0 class K to 'Dsf' from 'CCsf'; RE 0% and withdrawn;
--\$0 class L to 'Dsf' from 'Csf'; RE 0% and withdrawn;
--\$0 class RAM-1 to 'Dsf' from 'Csf'; RE 0% and withdrawn;
--\$0 class RAM-2 to 'Dsf' from 'Csf'; RE 0% and withdrawn.

The following classes originally rated by Fitch have paid in full: A-1, A-2, X-1, B, C, D, E, F, G, H, J, CAN-1, CAN-2, CAN-3, CAC-1, CAC-2, CAC-3, CNP-1, CNP-2, CNP-3, DSG-1, HFL, HGI-1, HGI-2, HMP-1, HMP-2, HMP-3, MVP, WBD-1, and WBD-2. In addition, Fitch previously withdrew the ratings on the interest-only classes X-2 and X-3.

Fitch did not rate the non-pooled classes DHC-1, DHC-2, DHC-3, DSG-2, PHH-1, PHH-2, SRL, and WPP.