NEW YORK--(BUSINESS WIRE)-- Fitch Ratings downgrades two classes of J.P. Morgan Chase Commercial Mortgage Securities Corp. (JPMC) series 2001-A commercial mortgage pass-through certificates. A detailed list of rating actions follows the end of the press release.

As of the June 2011 distribution date, the pool's two remaining loans are specially serviced and in foreclosure due to maturity default and continued poor performance.

The largest specially serviced loan (68.6%) is collateralized by a 795,500 square foot(sf) retail-anchored strip center in Maple Heights, OH, a suburb of Cleveland. The property has suffered from poor performance and the most recent servicer reported occupancy is 61%.

The second specially serviced loan (31.4%) is collateralized by a 399,839 sf suburban enclosed mall in Woodland, CA, which is near Sacramento. The loan was transferred to special servicing in Oct. 2009 due to an imminent default and the borrower subsequently became delinquent. The property is currently 53% occupied with only two out of four anchors in place. The two anchor tenants are Burlington Coat Factory (31.9%) and J.C. Penny (19%).

Fitch modeled losses of 45.8% based on Fitch adjustments to recent property valuations obtained by the special servicer for the remaining properties.

Fitch downgrades the following classes and assigns Recovery Ratings (RR) as follows:

--$3.4 million class E to 'C/RR1' from 'B/LS5';

--$5.1 million class F to 'C/RR4' from 'CC/RR6';

Fitch affirms the following classes and revises Loss Severity ratings and Outlook as indicated:

--$10.8 million class D at 'BB'; loss severity to 'LS1' from 'LS4'; Rating Outlook to Stable from Negative;

--$7.8 million class G at 'C/RR6'.

Fitch does not rate class NR.

Classes A-1, A-2, B and C have paid in full.

Fitch has already withdrawn the rating on the interest-only class X. (For additional information on the withdrawal of the rating on class X, see 'Fitch Revises Practice for Rating IO & Pre-Payment Related Structured Finance Securities' dated June 23, 2010.)

Additional information on Fitch's criteria is available in the Nov. 17, 2010 report, 'Surveillance Methodology for U.S. Fixed-Rate CMBS Transactions', which is available at 'www.fitchratings.com' under the following headers:

Structured Finance >> CMBS >> Criteria Reports

Additional information is available at 'www.fitchratings.com'.

Applicable Criteria and Related Research:

--'Global Structured Finance Rating Criteria' (Aug. 13, 2010);

--'Surveillance Methodology for U.S. Fixed -Rate CMBS Transactions' (Nov. 17, 2010).

Applicable Criteria and Related Research:

Global Structured Finance Rating Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=547326

Surveillance Methodology for U.S. Fixed-Rate CMBS Transactions

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=574208

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Fitch, Inc.
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