OREANDA-NEWS. March 25, 2016. Fitch Ratings has taken the following actions on the U.S. commercial servicer ratings of GEMSA Loan Services, LP (GEMSA):

--Primary servicer rating downgraded to 'CPS2-' from 'CPS1-' and subsequently withdrawn;
--Master servicer rating affirmed at 'CMS2+' and subsequently withdrawn.

Fitch is withdrawing the ratings of GEMSA as GEMSA has undergone reorganization. Accordingly, Fitch will no longer provide ratings or analytical coverage for GEMSA.

The servicer rating is based on the methodology described in Fitch's reports 'Rating Criteria for U.S. Commercial Mortgage Servicers,' dated Feb. 14, 2014 and 'Rating Criteria for Structured Finance Servicers,' dated April 30 2015, available on Fitch's website www.fitchratings.com.