Subject: CMBS Rating Upgrade (UPG)

  Deal NameCurrentPoolBal. $mlnOrig.PoolBal $mlnClassSize$mlnS&PNewRatingS&POldRatingReason for Rating ActionCDC Commercial Mortgage Trust, 2002-FX1581.9637.5G12.8AAAA-Increased subordination; defeasance (51 percent of pool)---H9.6AA-A-----J14.3A-BBB+----K12.7BBBBBB-----L6.4BB+BB----M4.8BBBB-----N4.0BB-B+----P3.2B+B-Morgan Stanley Capital I Inc., 2006-XLF571.51,560.0B34.2AAAAA+Increased subordination---C53.3AAAAA----D38.0AAAAA----E69.5AAAAA----F23.7AAAA-----G23.7AA-A+----H23.7A+A----J23.3A--Morgan Stanley Capital I Inc., 1999-CAM1240.2806.5E20.2AAAAA-Increased subordination---F8.1AA+A+----G14.1AA-BBB+----H14.1A-BBB--First Union National Bank Commercial Mortgage Trust, 2001-C2867.81,002.0F10.0AAAAA+Increased subordination; defeasance (42 ...

Deal NameCurrentPoolBal. $mlnOrig.PoolBal $mlnClassSize$mlnFitchNewRatingFitchOldRatingReason for Rating ActionMorgan Stanley Capital I Inc., 1998-WF2504.91,060.0F21.2AAAAAIncreased subordination---G23.9A+A-----H10.6BBB+BBB----J8.0BBBBBB-----K8.0BB+BB-CSFB Mortgage Securities Corp., 2006-TFL1583.61,080.0B39.0AAAAA+Increased subordination---C34.0AA+AA----D27.0AAAA-----E29.0AA-A+----F24.0A+A----G25.0AA-----H25.0A-BBB+-GMAC Commercial Mortgage Securities Corp., 2002-C3709.3777.4F9.7AAAAA+Increased subordination; defeasance (26.3 percent of pool)---G9.7AAAA-----H9.7A+A-Banc of America, First Union Commercial Mortgage Trust, 2001-3956.81,140.0G17.1AAAAA+Defeasance (25.9 percent of ...

Standard & Poor's has downgraded four classes of JPMorgan Chase Commercial Mortgage Securities Corp., 2004-CIBC8, because of a $13.9 million principal loss resulting from the liquidation of a $26.6 million apartment loan.The loss has impacted credit support levels for several ...

Standard & Poor's has downgraded four classes of JPMorgan Chase Commercial Mortgage Securities Corp., 2004-CIBC8, because of a $13.9 million principal loss resulting from the liquidation of a $26.6 million apartment loan.The loss has impacted credit support levels for several ...

  Deal NameCurrentPoolBal. $mlnOrig.PoolBal $mlnClassSize$mlnMoody'sNewRatingMoody'sOldRatingReason for Rating ActionJPMorgan Chase Commercial Mortgage Securities Corp., 2003-CIBC6993.91,060.0C32.5Aa2A1Increased subordination; defeasance (18.1 percent of pool)---D11.7A1A3----E14.3A3Baa1----F10.4Baa1Baa2----AC-11.9AaaBaa1----AC-22.8AaaBaa2----AC-32.8AaaBaa3----BM-13.9Aa2Aa3----BM-26.3A1A2----BM-34.4A2A3-PNC Mortgage Acceptance Corp., 2000-C1556.6801.0F12.0A3Baa1Defeasance (23.2 percent of pool)---G12.0Baa2Ba1-Greenwich Capital Commercial Funding, 2003-C21,670.01,740.0C21.7AaaAa2Defeasance (28.7 percent of pool)---D43.4Aa2A1----E15.2Aa3A2----F23.9A2Baa1----G26.0Baa1Baa2-JPMorgan Chase Commercial Mortgage Securities ...

Moody's Investors Service has downgraded three classes of JPMorgan Commercial Mortgage Securities Corp., 2002-C2 that are tied to a large shopping center loan whose collateral has seen a decline in performance.The rating agency downgraded the deal's: - $5.2 million class ...

  Deal NameCurrentPoolBal. $mlnOrig.PoolBal $mlnClassSize$mlnMoody'sNewRatingMoody'sOldRatingReason for Rating ActionJPMorgan Chase Commercial Mortgage Securities Corp., 2003-CIBC6993.91,060.0C32.5Aa2A1Increased subordination; defeasance (18.1 percent of pool)---D11.7A1A3----E14.3A3Baa1----F10.4Baa1Baa2----AC-11.9AaaBaa1----AC-22.8AaaBaa2----AC-32.8AaaBaa3----BM-13.9Aa2Aa3----BM-26.3A1A2----BM-34.4A2A3-PNC Mortgage Acceptance Corp., 2000-C1556.6801.0F12.0A3Baa1Defeasance (23.2 percent of pool)---G12.0Baa2Ba1-Greenwich Capital Commercial Funding, 2003-C21,670.01,740.0C21.7AaaAa2Defeasance (28.7 percent of pool)---D43.4Aa2A1----E15.2Aa3A2----F23.9A2Baa1----G26.0Baa1Baa2-JPMorgan Chase Commercial Mortgage Securities ...

Moody's Investors Service has downgraded three classes of JPMorgan Commercial Mortgage Securities Corp., 2002-C2 that are tied to a large shopping center loan whose collateral has seen a decline in performance.The rating agency downgraded the deal's: - $5.2 million class ...

Moody's Investors Service last week upgraded a total of 100 classes in 51 CMBS transactions, the latest batch of mass upgrades resulting from its regular quantitative analysis of conduit deals.The rating agency last year adopted what it termed "Q Tools" ...

Moody's Investors Service last week upgraded a total of 100 classes in 51 CMBS transactions, the latest batch of mass upgrades resulting from its regular quantitative analysis of conduit deals.The rating agency last year adopted what it termed "Q Tools" ...