<div id="readability-page-1"><div>Fitch Ratings-New York-10 November 2025:Fitch Ratings has affirmed 12 classes in Deustche Bank Securities COMM 2010-C1 commercial mortgage pass-through certificates (COMM 2010-C1), Cantor Commercial Real Estate (CFCRE) Commercial Mortgage Trust 2011-C2 commercial mortgage pass-through certificates (CRCRE 2011-C2), and German American Capital Corp.'s COMM 2012-LC4 (COMM 2012-LC4) commercial mortgage pass-through certificates transactions.The Rating Outlook for class D in COMM 2010-C1 is revised to Stable from Negative. The Outlook for class D in CRCRE 2011-C2 remains Stable.CFCRE 2011-C2----D 12527DAF7; Long Term Rating; Affirmed; BBsf; Rating Outlook Stable----E 12527DAG5; Long Term Rating; Affirmed; Csf----F 12527DAH3; Long Term Rating; Affirmed; Csf----G 12527DAJ9; Long Term Rating; Affirmed; CsfCOMM 2010-C1----D 12622DAK0; Long Term Rating; Affirmed; BBsf; Rating Outlook Stable----E 12622DAL8; Long Term Rating; Affirmed; CCCsf----F 12622DAM6; Long Term Rating; Affirmed; CCsf----G 12622DAN4; Long Term Rating; Affirmed; CsfCOMM 2012-LC4----C 126192AG8; Long Term Rating; Affirmed; CCsf----D 126192AK9; Long Term Rating; Affirmed; Csf----E 126192AL7; Long Term Rating; Affirmed; Csf----F 126192AM5; Long Term Rating; Affirmed; CsfKEY RATING DRIVERSPool Concentration; Adverse Selection: These transactions are concentrated with three or fewer loans/assets remaining, the majority of which are considered Fitch Loans of Concern (FLOCs). Fitch conducted a look-through analysis to determine the loans' expected recoveries and losses to assess the outstanding classes' ratings relative to credit enhancement (CE). In some cases, this analysis resulted in rating caps given the weak collateral quality of the remaining loans and concerns with ultimate refinance ability and/or workout resolutions. The affirmed classes reflect stable pool performance and loss expectations since the last rating action.The Outlook revision to Stable from Negative on class D in COMM 2010-C1 reflects increased CE and consistent recovery expectations for the remaining loan, Fashion Outlets of Niagara Falls. A downgrade is not expected due to sufficient expected recovery to pay class D in full.FLOCs and Specially Serviced Loans: All five loans in COMM 2012-LC4, COMM-2010-C1, and CRCRE 2011-C2 transactions are FLOCs, including two specially serviced loans in COMM 2012-LC4.There is one loan remaining in COMM 2010-C1, Fashion Outlets of Niagara Falls, sponsored by The Macerich Company. The loan was previously transferred to special servicing in October 2023 for imminent maturity default and subsequently returned to the master servicer as a corrected mortgage loan on July 19, 2024. As the result of a modification, the loan was extended through October 2026 and has remained current.The loan is secured by an outlet mall consisting of 525,663 sf located in Niagara, NY near the U.S. and Canada border. The property is heavily reliant on tourism; prior to the pandemic, the property suffered from significantly lower sales since issuance along with fluctuating occupancy.Per the servicer, the June 2025 DSCR was 0.77x with an occupancy of 69.7% compared to YE 2024 DSCR of 0.98x with an occupancy of 76.5%. Fitch's 'Bsf' rating case loss of 28.2% (prior to a concentration adjustment) is based on YE 2024 NOI and a 20% cap rate, which resulted in a Fitch stressed value of $45.9M.The largest contributor to loss in COMM 2012-LC4 is the Square One Mall loan (74.4% of the pool), secured by a 542,751 sf portion of a 928,667 sf regional mall located in Saugus, MA. The loan transferred to special servicing in July 2020 for imminent monetary default related to the pandemic and was modified in early September 2021; modification terms included a five-year maturity extension to January 2027. The loan returned to the master servicer in November 2021 and will be cash managed for the remainder of the term with a hyper amortization from all excess cash flow.Non-collateral anchors include Macy's and a former Sears box that went dark in September 2020. Major collateral tenants include BD's Furniture, Dick's Sporting Goods, T.J. Maxx and Best Buy. Inline tenants include Old Navy, The Gap/Gap Kids, H&amp;M, Express, American Eagle Outfitters, Victoria's Secret, Hollister Co. and Aeropostale.As of June 2025, the collateral was 75% occupied with a DSCR of 1.02x compared to YE 2024 DSCR of 1.53x and an occupancy of 77%. Fitch's 'Bsf' rating case loss of 39% (prior to a concentration adjustment) is consistent with the prior rating action and reflects a recovery value of $141 psf.Changes to Credit Enhancement (CE): As of the October 2025 reporting, aggregated balances have reduced significantly since issuance, with COMM 2010-C1 reduced by 90.9%, COMM 2012-LC4 reduced 89.1%, and CRCRE 2011-C2 reduced by 90.5%.RATING SENSITIVITIES Factors that Could, Individually or Collectively, Lead to Negative Rating Action/DowngradeDowngrades to 'BBsf' category rated classes are possible with higher-than-expected losses from continued under-performance of the FLOCs and with greater certainty of losses on the specially serviced loans/assets or other FLOCs.Downgrades to distressed ratings would occur as losses become more certain and/or as losses are incurred.Factors that Could, Individually or Collectively, Lead to Positive Rating Action/UpgradeGiven the significant pool concentration and adverse selection of these transactions, upgrades are not likely but may occur with better-than-expected recoveries on specially serviced loans or significantly higher values or recovery expectations on the FLOCs.USE OF THIRD PARTY DUE DILIGENCE PURSUANT TO SEC RULE 17G -10Form ABS Due Diligence-15E was not provided to, or reviewed by, Fitch in relation to this rating action.REFERENCES FOR SUBSTANTIALLY MATERIAL SOURCE CITED AS KEY DRIVER OF RATING The principal sources of information used in the analysis are described in the Applicable Criteria. ESG ConsiderationsThe highest level of ESG credit relevance is a score of '3', unless otherwise disclosed in this section. A score of '3' means ESG issues are credit-neutral or have only a minimal credit impact on the entity, either due to their nature or the way in which they are being managed by the entity. Fitch's ESG Relevance Scores are not inputs in the rating process; they are an observation on the relevance and materiality of ESG factors in the rating decision. For more information on Fitch's ESG Relevance Scores, visit https://www.fitchratings.com/topics/esg/products#esg-relevance-scores.Contacts:Surveillance Rating AnalystCaroline Lewis,Analyst+1 312 205 3394caroline.lewis@fitchratings.comFitch Ratings, Inc.One North Wacker DriveChicago, IL 60606Committee ChairpersonBrook Sutherland,Senior Director+1 312 606 2346robert.sutherland@fitchratings.comMEDIA RELATIONS: Anne Wilhelm, New York, Tel: +1 212 908 0334, Email: anne.wilhelm@thefitchgroup.comAdditional information is available on www.fitchratings.comADDITIONAL DISCLOSURESDodd-Frank Rating Information Disclosure FormSolicitation StatusAdditional Disclosures For Unsolicited Credit RatingsEndorsement StatusEndorsement PolicyALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTPS://WWW.FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. 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CMBS

Fitch Ratings has affirmed 12 classes in three US commercial mortgage pass-through certificates transactions from 2010-2012. The Outlook for class D in COMM 2010-C1 was revised to Stable from Negative, reflecting increased credit enhancement and recovery expectations. All loans in the transactions are classified as Fitch Loans of Concern, with some specially serviced. The largest contributor to loss is the Square One Mall loan, which has undergone modifications due to pandemic-related issues. Overall, the affirmed classes indicate stable pool performance despite challenges.

Fitch Affirms 12 Classes in 3 US CMBS Transactions from 2010-2012 Vintages