OREANDA-NEWS. Fitch Ratings withdraws 20 distressed classes in three small-balance U.S. commercial mortgage-backed securities (CMBS) transactions.

KEY RATING DRIVERS

The ratings withdrawals are on classes currently rated 'Csf' or 'Dsf', which reflects the fact that realized losses are considered either inevitable or have already been incurred. The withdrawals are as the result of the lack of relevancy of the ratings on these transactions, as well as lack of investor interest. The ratings were affirmed on April 2, 2015 and after an inquiry in the release, Fitch received no comment from investors on whether the ratings were considered necessary.

A spreadsheet detailing Fitch's rating actions on the affected transactions is available at 'www.fitchratings.com' by performing a title search for: 'Fitch Withdraws 9 Distressed Classes in 3 Small Balance Transactions', or by clicking on the link above.

RATING SENSITIVITIES

The transactions' ratings are expected to incur realized losses and are withdrawn.

DUE DILIGENCE USAGE

No third party due diligence was provided or reviewed in relation to this rating action.