2008-09-17 01:09:02 -

- Fitch Ratings upgrades NationsLink Funding Corporation commercial mortgage pass-through certificates, series 1999-1 as follows:

--$9.2 million class G to 'AAA' from 'AA-';

--$30.6 million class H to 'BBB+' from 'BBB-'.

Fitch also affirms the following classes:

--$195.1 million class A-2 at 'AAA';

--Interest only class X at 'AAA';

--$64.2 million class B at 'AAA';

--$61.1 million class C at 'AAA';

--$67.2 million class D at 'AAA'.

Fitch does not rate the $33.6 million class E, $51.9 million class F, $15.3 million class J, or $25.9 million class K certificates. The class A-1 certificates paid in full.

The upgrades are the result of increased credit enhancement due to

additional paydown (35%) and defeasance (3.7%) since Fitch's last rating action in February 2008. To date, 99 loans (51.9%) have fully defeased including the six largest loans in the deal. Approximately, 67% of the transaction is scheduled to mature in 2008, of which (29%) is non-defeased. The weighted-average coupon for the non-defeased 2008 maturities is 6.73%. As of the August 2008 distribution report, the transaction's balance has been reduced 55% to $554.1 million from $1.2 billion at issuance. There is currently one (1.8%) loan in special servicing and no losses are expected.

The specially serviced loan is secured by an industrial property located in Clinton, SC, and is currently the second largest non-defeased loan in the deal. The loan matured on Aug. 1, 2008 and was transferred to the special servicer due to a maturity default. A forbearance agreement was approved to allow the borrower time to refinance the loan.

Fitch's rating definitions and the terms of use of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures are also available from the 'Code of Conduct' section of this site.

Fitch Ratings
Lisa Cook, 212-908-0665
or
Adam Fox, 212-908-0869, New York
or
Media Relations:
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