Subject: CMBS Rating Upgrade (UPG)

Deal NameCurrentPoolBal. $mlnOrig.PoolBal $mlnClassSize$mlnFitchNewRatingFitchOldRatingReason for Rating ActionBanc of America Large Loan Inc., 2005-MIB1804.31,260.0C51.2AAAAA+Increased subordination---D30.3AA+AA----E30.3AAAA-----F30.3AA-A+----G30.3A+A----H25.3AA--GE Commercial Mortgage Corp., 2003-C21,140.01,210.0E14.8AAAAA+Increased subordination; defeasance (22.1 percent of pool.)---F14.8AAAA-----G14.8A+A----H14.8A-BBB+-Credit Suisse First Boston Mortgage Securities Corp., 1997-C2614.11,470.0F73.3AA+AA-Increased subordination---G14.7A+A--Chase Commercial Mortgage Securities Corp., 1997-2303.6814.0F48.8AAAA+Increased subordination; defeasance (37.4 ...

  Deal NameCurrentPoolBal. $mlnOrig.PoolBal $mlnClassSize$mlnDBRSNewRatingDBRSOldRatingReason for Rating ActionBear Stearns Commercial Mortgage Securities Inc., 2004-ESA665.52,050.0F43.0AAAAAhighDefeasance (100 percent)---G43.0AAAAA----H40.0AAAAAlow----J67.0AAAA- 

Deal NameCurrentPoolBal. $mlnOrig.PoolBal $mlnClassSize$mlnFitchNewRatingFitchOldRatingReason for Rating ActionBanc of America Large Loan Inc., 2005-MIB1804.31,260.0C51.2AAAAA+Increased subordination---D30.3AA+AA----E30.3AAAA-----F30.3AA-A+----G30.3A+A----H25.3AA--GE Commercial Mortgage Corp., 2003-C21,140.01,210.0E14.8AAAAA+Increased subordination; defeasance (22.1 percent of pool.)---F14.8AAAA-----G14.8A+A----H14.8A-BBB+-Credit Suisse First Boston Mortgage Securities Corp., 1997-C2614.11,470.0F73.3AA+AA-Increased subordination---G14.7A+A--Chase Commercial Mortgage Securities Corp., 1997-2303.6814.0F48.8AAAA+Increased subordination; defeasance (37.4 ...

  Deal NameCurrentPoolBal. $mlnOrig.PoolBal $mlnClassSize$mlnDBRSNewRatingDBRSOldRatingReason for Rating ActionBear Stearns Commercial Mortgage Securities Inc., 2004-ESA665.52,050.0F43.0AAAAAhighDefeasance (100 percent)---G43.0AAAAA----H40.0AAAAAlow----J67.0AAAA- 

Fitch Ratings has upgraded CWCapital Asset Management's special servicer rating to CSS2 from CSS2- and affirmed the Needham, Mass., company's CPS2 primary and CMS3 master servicer ratings.The rating agency cited CWCapital's "strong special servicing administration capabilities" and its experienced staff ...

Fitch Ratings has upgraded CWCapital Asset Management's special servicer rating to CSS2 from CSS2- and affirmed the Needham, Mass., company's CPS2 primary and CMS3 master servicer ratings.The rating agency cited CWCapital's "strong special servicing administration capabilities" and its experienced staff ...

Deal NameCurrentPoolBal. $mlnOrig.PoolBal $mlnClassSize$mlnFitchNewRatingFitchOldRatingReason for Rating ActionMerrill Lynch Mortgage Trust, 2004-BPC11,210.01,240.0C12.4AAAA-Defeasance (9.7 percent of pool)---D18.6A+A----E9.3AA--First Union National Bank Commercial Mortgage Trust, 2000-C1682.4776.3G29.1AA-Increased subordination; defeasance (36.7 percent of pool)---J3.9BBB+BBB----K7.8BBB-BB+-

  Deal NameCurrentPoolBal. $mlnOrig.PoolBal $mlnClassSize$mlnMoody'sNewRatingMoody'sOldRatingReason for Rating ActionLehman Brothers Floating-Rate Commercial Mortgage Trust, 2005-LLF C4212.9935.6B24.3AaaAa1Increased subordination---C22.1AaaAa2----D13.3AaaAa3----E13.3AaaA1----F13.3AaaA2----G13.3Aa1A3----H15.5A2Baa1----WFV4.9A3Baa3Improved performance of Westfield Shoppingtown ValenciaPotomac/Gurney Mills Trust, 2001-XLPGM257.8279.8D37.8AaaA1Defeasance (100 percent)---E9.7AaaA2----F21.4AaaBaa1----G22.5AaaBaa3- 

Deal NameCurrentPoolBal. $mlnOrig.PoolBal $mlnClassSize$mlnFitchNewRatingFitchOldRatingReason for Rating ActionMerrill Lynch Mortgage Trust, 2004-BPC11,210.01,240.0C12.4AAAA-Defeasance (9.7 percent of pool)---D18.6A+A----E9.3AA--First Union National Bank Commercial Mortgage Trust, 2000-C1682.4776.3G29.1AA-Increased subordination; defeasance (36.7 percent of pool)---J3.9BBB+BBB----K7.8BBB-BB+-

  Deal NameCurrentPoolBal. $mlnOrig.PoolBal $mlnClassSize$mlnMoody'sNewRatingMoody'sOldRatingReason for Rating ActionLehman Brothers Floating-Rate Commercial Mortgage Trust, 2005-LLF C4212.9935.6B24.3AaaAa1Increased subordination---C22.1AaaAa2----D13.3AaaAa3----E13.3AaaA1----F13.3AaaA2----G13.3Aa1A3----H15.5A2Baa1----WFV4.9A3Baa3Improved performance of Westfield Shoppingtown ValenciaPotomac/Gurney Mills Trust, 2001-XLPGM257.8279.8D37.8AaaA1Defeasance (100 percent)---E9.7AaaA2----F21.4AaaBaa1----G22.5AaaBaa3-