Although Fitch Ratings downgrades for U.K. CMBS are expected to stabilize, the rest of Europe might not have as much luck, according to a Barclays Capital report.

“Leaving a bit of room for further U.K. downgrades, in case rents decline more than expected, we expect the Fitch ratings for U.K. deals to be mostly stable for the rest of 2009,” said Hans Vrensen, director and head of securitization research at Barclays.

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