Subject: CMBS Rating Downgrade (DOWNG)

February 4, 2002 NEW YORK – Standard & Poor's has lowered its rating on class A-3 of Conseco Commercial Mortgage Trust I's 1989-1 due to the downgrades of Kmart Corp.The rating was removed from credit watch with negative implications.Class A-3 ...

January 25, 2002NEW YORK – Fitch has placed three classes of Asset Securitization Corp., 1995-MD IV, on Rating Watch Negative, while affirming the deal's remaining classes.The rating action was prompted by weak performance of thee hotel loans in the deal. ...

January 7, 2002 NEW YORK – Fitch, which has downgraded Kmart's corporate credit rating to single-B-plus from double-B-plus, has downgraded Kmart Corp. 1995 K-1 and 1995 K-2 to single-B-plus as well.The deals are backed by an assignment of rents on ...

December 19, 2001NEW YORK – Standard & Poor's has placed its rating on two classes of Salomon Brothers Mortgage Securities VII's 2001-CDC on credit watch with negative implications – reflecting the agency's concerns with the 10th largest loan in the ...

December 4, 2001 NEW YORK – Standard & Poor's has downgraded seven CMBS transactions this year because of interest shortfalls.The rating agency, in a published report, "Interest Shortfalls and Their Impact on CMBS Ratings," warned that CMBS deal's ratings can ...

November 28, 2001 NEW YORK – Standard & Poor's has lowered its ratings on 14 credit-lease transactions involving Kmart Corp. collateral.The move comes as a result of S&P's downgrade of Kmart's credit rating to double-B from double-B-plus. The following deals ...

November 14, 2001NEW YORK – Fitch has downgraded Capital Lease Funding Securitization, 1997-CTL1, and placed it on rating watch negative, because of the deal's exposure to Circuit City Stores Inc.The collateral pool contains five loans, representing 16 percent of the ...

October 9, 2001 NEW YORK – Standard & Poor's lowered its ratings on two classes of DLJ Mortgage Acceptance Corp.'s 1997-CF1 and placed its rating on class B-2 on credit watch negative.Class B-3 was reduced to single-minus from double-B-minus, and ...

October 5, 2001 NEW YORK – Moody's Investors Service has downgraded Nortel Networks Lease Pass-Through Trust, 2001-1, to Baa2 from Baa1 because it had previously downgraded Nortel Networks Ltd. Because the rating agency placed Nortel's corporate debt rating on review ...

September 27, 2001 NEW YORK – Fitch has downgraded LTC, 1996-1, because of deteriorating collateral performance. The rating agency downgraded the deal's $7.6 million class C to single-A-minus from single-A; the $5.1 million class D to triple-B-minus from triple-B; and ...