Subject: CMBS Rating Downgrade (DOWNG)

August 6, 2004 Moody's Investors Service has downgraded the $10 million class F-1 of Commercial Mortgage Acceptance Corp., 1997-ML1, because one of the deal's collateral loans has weakened further since it last reviewed the deal.Moody's last April placed four of ...

July 14, 2004 Moody's Investors Service has downgraded three classes (A-1, A-2 and A-3) of Winn-Dixie Pass-Through Trust Certificates, 1999-1 to B3 from B1 to reflect the downgrade of Winn-Dixie Stores' corporate credit rating.The CMBS deal is backed by triple-net ...

April 27, 2004 Fitch Ratings has downgraded two classes of Capco America Securitization Corp., 1998-D7, because of expected losses from loans in special servicing.It also upgraded the deal's $62.3 million class A-2 to triple-A from double-A-plus because subordination levels have ...

February 20, 2004 Moody's Investors Service has placed five classes of Calwest Industrial Trust, 2002-CALW, under review for possible downgrade because revenue at the properties securing the deal's collateral loan has fallen and expenses have risen.The rating agency is reviewing ...

February 20, 2004 Standard & Poor's has downgraded three classes of J.P. Morgan Chase Commercial Mortgage Securities Corp., 2001-CIBC1, because a large portion of the collateral pool is either in special servicing or on the servicer's watchlist. The rating agency ...

February 18, 2004 Fitch Ratings has placed two classes of DLJ Commercial Mortgage Corp., 1998-CF2, on rating watch negative because of interest shortfalls.The rating agency is reviewing the deal's:– $22.2 million class B-5, which is rated single-B and – $13.8 ...

November 19, 2003 Fitch Ratings has downgraded two classes of Capital Lease Funding Securitization LP, 1997-CTL-1, because of declines in the credit ratings of some of the tenants in properties securing the deal.The rating agency downgraded the deal's: – $6.8 ...

November 19, 2003 Fitch Ratings has downgraded the $7.5 million class H of Prudential Securities Secured Financing Corp., 1995-MCF2, to single-D from single-C because of the $3.6 million of losses that were applied to it last month. The class is ...

September 22, 2003 Fitch Ratings has placed two classes of GMAC Commercial Mortgage Securities Inc., 2000-C1, because of losses that might arise from loans of concern. The rating agency placed on rating watch negative the deal's: – $6.6 million class ...

September 19, 2003 Standard & Poor's has downgraded four classes of First Union National Bank Commercial Mortgage Trust, 2000-C2, because interest shortfalls are expected to hit the classes for as long as the next two years.. The rating agency downgraded ...