July 16, 2012 / 8:29 PM / 5 years ago

TEXT-Fitch affirms 8 classes of GECCMC 2001-3

July 16 - Fitch Ratings has affirmed eight classes of GE Capital Commercial
Mortgage Corporation's commercial mortgage pass-through certificates, series
2001-3. A detailed list of rating actions follows at the end of this press

The affirmations are due to sufficient credit enhancement after consideration of
expected losses. As of the July 2012 distribution date, the pool's certificate
balance has been reduced by 93% (including 3.8% in realized losses) to $67.8
million from $963.8 million at issuance.

Although credit enhancement has increased, the pool has become more
concentrated, with adverse selection of concern. There are only 15 loans
remaining, eight of which (70.6% of the pool) are in special servicing. One loan
in the pool (2.3%) is defeased. There are cumulative interest shortfalls in the
amount of $2.6 million currently affecting classes I through K and classes M and

The largest contributor to Fitch-modeled losses (2.68%) is secured by a 114,421
square foot (sf) office building located in Arlington, TX. The loan was
transferred to special servicing in November 2008 and became real-estate owned
(REO) in April 2010. The special servicer is pursuing a lease-up strategy before
taking the property to market.

Fitch affirms the following classes as indicated:

--$5.2 million class F at 'Asf'; Outlook Stable;
--$12.million class G at 'BBBsf'; Outlook Stable;
--$27.7 million class H at 'CCCsf'; RE 100%;
--$8.4 million class I at 'Csf'; RE 35%;
--$7.2 million class J at 'Csf'; RE 0%;
--$7.1 million class K at 'Dsf'; RE 0%;
--Class L at 'Dsf'; RE 0%;
--Class M at 'Dsf'; RE 0%.

Classes A-1, A-2, and B through E have repaid in full. Fitch does not rate class
N. Classes X-1 and X-2 have previously been withdrawn

Additional information on Fitch's criteria for analyzing fixed rate U.S. CMBS is
available in the Dec. 21, 2011 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'. The ratings above
were solicited by, or on behalf of, the issuer, and therefore, Fitch has been
compensated for the provision of the ratings.

Applicable Criteria and Related Research:
--'Surveillance Methodology for U.S. Fixed-Rate CMBS Transactions' Dec. 21,
--'Global Structured Finance Rating Criteria' June 6, 2012.

Applicable Criteria and Related Research:
Global Structured Finance Rating Criteria
Surveillance Methodology for U.S. Fixed-Rate CMBS Transactions

Our Standards:The Thomson Reuters Trust Principles.
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