Subject: CMBS Rating Upgrade (UPG)

Moody's Investors Service has upgraded two classes of Bear Stearns Commercial Mortgage Securities Inc., 1999-C1, due to increased subordination levels and the number of loans being defeased. The rating's agency has downgraded the deal's: - $21.5 million class D to ...

Moody's Investors Service has upgraded four classes and downgraded one of GS Mortgage Securities Corp. II, GSFL VIII. The rating's agency downgraded the deal's $4.9 million class H-HP to Ba1 from Baa3 because of a decline in performance of the ...

Moody's Investors Service has upgraded four classes and downgraded one of GS Mortgage Securities Corp. II, GSFL VIII. The rating's agency downgraded the deal's $4.9 million class H-HP to Ba1 from Baa3 because of a decline in performance of the ...

Deal Name CurrentPoolBal. $mln Orig.PoolBal $mln Class Size$mln FitchNewRating FitchOldRating Reason for Rating Action GS Mortgage Securities Corp. II, 2003-C1 1,060.0 1,610.0 D 12.1 AAA AA+ Increased subordination; defeasance (25.6 percent of pool). - - - E 18.1 AAA AA- ...

  Deal Name CurrentPoolBal. $mln Orig.PoolBal $mln Class Size$mln S&PNewRating S&POldRating Reason for Rating Action Morgan Stanley Dean Witter Capital I Trust, 2001-TOP5 781.6 1,042.0 C 28.3 AA+ AA Increased subordination; defeasance (19 percent of pool) - - - D ...

  Deal Name CurrentPoolBal. $mln Orig.PoolBal $mln Class Size$mln DBRSNewRating DBRSOldRating Reason for Rating Action GE Commercial Mortgage Corp. 1,620.3 1,856.4 B 41.9 AA(high) AA Strong outlook for collateral; defeasance (10.6 percent of pool)  

  Deal Name CurrentPoolBal. $mln Orig.PoolBal $mln Class Size$mln Moody'sNewRating Moody'sOldRating Reason for Rating Action Commercial Mortgage Acceptance Corp.,1997-ML1 110.5 848.5 D 4.2 A1 A2 Increased subordination - - - E 17.0 Baa2 Baa3 -  

Deal Name CurrentPoolBal. $mln Orig.PoolBal $mln Class Size$mln FitchNewRating FitchOldRating Reason for Rating Action GMAC Commercial Mortgage Securities Inc., 2000-C3 1,170.0 1,320.0 F 19.1 AAA AA Increased subordination; defeasance (39.1 percent of pool.) - - - G 8.0 AA AA- ...

Moody's Investors Services has upgraded one class and downgraded two others of GE Capital Commercial Mortgage Corp., 2000-1. The rating agency is upgrading the deal's $8.4 million class D to A2 from A3 because of defeasance. due to the pool's ...

Fitch Ratings has downgraded the $2.9 million class P of JPMorgan Commercial Mortgage Securities Corp., 2003-PM1, to CCC from B- because four collateral loans totaling $24 million have been moved to special servicing. The rating agency added that the potential ...