Deal Name: Series 1998-C1

Deal NameCurrentPoolBal. $mlnOrig.PoolBal $mlnClassSize$mlnS&PNewRatingS&POldRatingReason for Rating ActionBank of America-First Union Commercial Mortgage Trust, 2001-3961.81,140.0F17.1AA+AADefeasance (17 percent of pool)---G17.1AA-A+-Prudential Securities Secured Financing Corp., 1998-C1566.01,148.7D60.3AAAAAIncreased subordination---E17.2AAAA+----F25.8A+BBB+----G28.7A-BBB-----H8.6BBBBB+----J11.5BB+BB-Structured Asset Securities Corp., 1997-LL1264.61,426.0E42.8AAAAAIncreased subordination, improved collateral performance

Deal NameCurrentPoolBal. $mlnOrig.PoolBal $mlnClassSize$mlnS&PNewRatingS&POldRatingReason for Rating ActionGS Mortgage Securities Corp. II, 1998-C11,300.01,860.0D107.0AA+AADefeasance (25 percent of pool---E32.6AA--

Deal NameCurrentPoolBal. $mlnOrig.PoolBal $mlnClassSize$mlnMoody'sNewRatingMoody'sOldRatingReason for Rating ActionPrudential Secured Financing Corp., 1998-C1628.41,100.0E17.2AaaAa2Increased subordination; defeasance (8.5 percent of pool)---F25.8Aa2Baa1----H8.6Baa2Ba2----J11.5Ba1Ba3-First Union National Bank Commercial Mortgage Trust, 2001-C4828.7978.6D12.2AaaAa1Increased subordination; defeasance (13.7 percent of pool)---E17.1AaaAa3----F12.2Aa1A1----G12.2Aa2A2----H17.1A1Baa1----J14.7A3Baa2----K14.7Baa2Baa3----L22.0Ba1Ba2-Bear Stearns Commercial Mortgage Securities Inc., 1999-WF2757.11,100.0C43.2AaaAa1Increased subordination; defeasance (19.3 percent ...

Standard & Poor's has downgraded the $49.6 million class H of Credit Suisse First Boston Mortgage Securities Corp., 1998-C1, to D from CCC because of expected losses from loans in special servicing.The issue includes 19 loans, totaling $103.8 million, that ...

Deal NameCurrentPoolBal. $mlnOrig.PoolBal $mlnClassSize$mlnS&PNewRatingS&POldRatingReason for Rating ActionFirst Union-Lehman Brothers Commercial Mortgage Trust, 1997-C1463.61,300.0F71.8ABBB-Improved subordination levels.---G13.1BBBBB+----H26.1BBB-Commercial Mortgage Acceptance Corp., 1998-C1606.11,192.0E20.9AAAAAImproved subordination levels.--F53.7A-BBB+---G11.9BBB+BBB----H8.9BBBBB+---J14.9BB+BB----K8.9BBB+-

Following is the first part of a list of CMBS upgrades that Moody's Investors Service made yesterday, as a result of its adoption of quantitative analysis to determine whether certain seasoned transactions should get upgraded. In total, the agency upgraded ...

Moody's Investors Services has downgraded three classes of Bear Stearn's Commercial Mortgage Securities Inc., 1998-C1 because of losses.The rating agency downgraded the deal's:- $5.4 million class H to B1 from Ba3;- $17.9 million class I to C from Caa1 and- ...

Moody's Investor Services has downgraded two classes of Commercial Mortgage Acceptance Corp., 1998-C1, because of losses from loans in special servicing and the poor performance of the deal's largest loan.The rating agency downgraded the deal's:- $11.9 million class L to ...

Fitch Ratings has upgraded bonds from two Credit Suisse First Boston Mortgage Securities Corp. transactions because of increased subordination levels and defeasance.The rating agency upgraded two classes of CSFB, 1998-C1, whose balance is $1.89 billion compared to $2.48 billion at ...

Moody's Investors Service last week upgraded three classes of Impac CMB Trust 1998-C1, because of improved subordination levels.The deal's balance is $145.4 million compared with $317.8 million at issuance. So far four loans have been liquidated, resulting in $1.8 million ...