DBRS Downgrades Class Q of Morgan Stanley Capital I Trust 2005-HQ6 to D (sf)

DBRS has today downgraded the Commercial Mortgage Pass-Through Certificates, Series 2005-HQ6, Class Q (the Class Q) rating of Morgan Stanley Capital I Trust 2005-HQ6 (the Trust) to D (sf) from C (sf). The downgrade is the consequence of realized losses to the Trust as a result of the liquidation of three loans out of the Trust.

Prospectus ID#136 (Ferndale Retail Center), Prospectus ID#79 (Suburban Extended Stay Portfolio-Daytona) and Prospectus ID#144 (Rogers Retail Center) were liquidated at a total loss of $6.32 million to the Trust as of the October 2011 remittance report. The weighted-average loss severity of 66.9% is in line with projections by DBRS for these loans at the time of its most recent full review of the transaction, conducted in July 2011. As a result of these losses, the original balance of the Class Q certificates has been reduced by approximately 56% to $5.76 million as of the October 2011 remittance report.

Notes:
All figures are in U.S. dollars unless otherwise noted.

The applicable methodology is CMBS Rating Methodology and CMBS North American Surveillance Methodology, which can be found on our website under Methodologies.