Subject: CMBS Rating Upgrade (UPG)

  Deal Name CurrentPoolBal. $mln Orig.PoolBal $mln Class Size$mln S&PNewRating S&POldRating Reason for Rating Action Wachovia Bank Commercial Mortgage Trust, 2002-C1 769.1 950.0 D 28.4 AAA AA+ Increased subordination; defeasance (23 percent of pool) - - - E 8.8 AA+ ...

  Deal Name CurrentPoolBal. $mln Orig.PoolBal $mln Class Size$mln Moody'sNewRating Moody'sOldRating Reason for Rating Action Wachovia Bank Commercial Mortgage Trust, 2003-C8 901.9 974.2 B 29.2 Aa1 Aa2 Increased subordination - - - C 13.4 Aa2 Aa3 - GMAC Commercial Mortgage ...

Deal Name CurrentPoolBal. $mln Orig.PoolBal $mln Class Size$mln FitchNewRating FitchOldRating Reason for Rating Action Chase Commercial Mortgage Securities Corp., 2000-1 437.3 697.1 F 10.5 AA+ AA Improved subordination/defeasance LB-UBS Commercial Mortgage Trust, 2000-C3 886.9 1,305.7 G 11.8 AAA AA+ Improved ...

Standard & Poor's has downgraded four classes of Credit Suisse First Boston Mortgage Securities Corp., 2002-CKS4, because of expected losses that will impact credit support levels. So far, the transaction has seen $7 million of losses. And six loans totaling ...

  Deal Name CurrentPoolBal. $mln Orig.PoolBal $mln Class Size$mln Moody'sNewRating Moody'sOldRating Reason for Rating Action Morgan Stanley Capital I Inc., 1998-CF1 299.6 1,100.0 D 60.9 Aa2 Aa3 Increased subordination; defeasance (34 percent of pool). - - - E 19.4 Baa2 ...

  Deal Name CurrentPoolBal. $mln Orig.PoolBal $mln Class Size$mln Moody'sNewRating Moody'sOldRating Reason for Rating Action Morgan Stanley Capital I Inc Commercial Mortgage Trust, 2007-XLF 818.5 1,400.0 B 41.2 Aaa Aa1 Increased subordination - - - C 41.2 Aa1 Aa2 - ...

Moody's Investors Service has downgraded two classes of Credit Suisse First Boston Mortgage Securities Corp., 2001-CF2, due to realized and expected losses from loans in special servicing. The ratings agency downgraded the deal's: - $9.3 million class L to Caa3 ...

Standard & Poor's has downgraded two classes of GS Mortgage Securities Corp. II, 2006-GSFL VIII, because it has determined that the properties backing two large collateral loans have declined in value. The rating agency said the eight Pleasanton, Calif., office ...

  Deal Name CurrentPoolBal. $mln Orig.PoolBal $mln Class Size$mln Moody'sNewRating Moody'sOldRating Reason for Rating Action Washington Mutual Asset Securities Corp., 2003-C1 209.6 571.9 E 2.9 Aaa Aa1 Increased subordination - - - F 4.3 Aaa Aa3 - - - - ...

  Deal Name CurrentPoolBal. $mln Orig.PoolBal $mln Class Size$mln Moody'sNewRating Moody'sOldRating Reason for Rating Action GMAC Commercial Mortgage Securities Inc., 2003-C3 1,330.0 1,430.0 D 30.0 Aa3 A1 Increased subordination; defeasance (18.4 percent of pool). - - - E 21.7 A2 ...