Victoria Funding CMBS Notes Downgraded

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Victoria Funding CMBS Notes Downgraded

Citigroup’s 2005 U.K.commercial mortgage securitization Victoria Funding (EMC-III) has had its class D and E notes downgraded by Standard & Poor’s, after the rating agency said money from any sales of the underlying properties may not be enough to repay the sole remaining securitized loan.

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