Subject: CMBS Rating Upgrade (UPG)

  Deal Name CurrentPoolBal. $mln Orig.PoolBal $mln Class Size$mln Moody'sNewRating Moody'sOldRating Reason for Rating Action GE Capital Commercial Mortgage Corp., 2003-C1 1,040.0 1,190.0 D 25.3 Aaa Aa1 Increased subordination; defeasance (30.5 percent of pool) - - - E 16.3 Aa2 ...

Deal Name CurrentPoolBal. $mln Orig.PoolBal $mln Class Size$mln FitchNewRating FitchOldRating Reason for Rating Action GMAC Commercial Mortgage Securities Corp., 2002-C3 676.1 777.4 G 9.7 AA+ AA Increased subordination; defeasance (29.2 percent of pool) - - - H 9.7 AA- A+ ...

  Deal Name CurrentPoolBal. $mln Orig.PoolBal $mln Class Size$mln Moody'sNewRating Moody'sOldRating Reason for Rating Action Wachovia Bank Commercial Mortgage Trust, 2002-C2 775.8 875.1 F 10.9 Aa1 Aa3 Increased subordination; defeasance (26.9 percent of the pool). - - - G 15.3 ...

  Deal Name CurrentPoolBal. $mln Orig.PoolBal $mln Class Size$mln Moody'sNewRating Moody'sOldRating Reason for Rating Action Credit Suisse First Boston Mortgage Securities Corp., 2001-CK1 734.9 997.1 C 45.4 Aaa Aa1 Increased subordination; defeasance (41 percent of the pool) - - - ...

  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-PPM 158.9 623.6 G 8.6 BB- B+ Increased subordination - - - H 9.4 B- D - - ...

Deal Name CurrentPoolBal. $mln Orig.PoolBal $mln Class Size$mln FitchNewRating FitchOldRating Reason for Rating Action Credit Suisse First Boston Mortgage Securities Corp., 2001-CK1 734.9 997.1 F 20.2 AAA AA+ Defeasance (41 percent of pool) - - - G 17.7 AA+ AA- ...

Deal Name CurrentPoolBal. $mln Orig.PoolBal $mln Class Size$mln FitchNewRating FitchOldRating Reason for Rating Action Credit Suisse First Boston Mortgage Securities Corp., 1999-C1 883.2 1,170.0 G 32.2 A+ A Increased subordination; defeasance (32.7 percent of pool) - - - H 23.4 ...

  Deal Name CurrentPoolBal. $mln Orig.PoolBal $mln Class Size$mln S&PNewRating S&POldRating Reason for Rating Action GS Mortgage Securities Corp. II, 2007-EOP 5,084.0 6,867.0 C 432.3 AAA AA+ Increased subordination - - - D 220.0 AAA AA - - - - ...

  Deal Name CurrentPoolBal. $mln Orig.PoolBal $mln Class Size$mln S&PNewRating S&POldRating Reason for Rating Action CAM Commercial Mortgage Corp., 2002-CAM2 145.5 208.3 C   AA A+ Increased subordination - - - D   A+ A - - - - E ...

  Deal Name CurrentPoolBal. $mln Orig.PoolBal $mln Class Size$mln S&PNewRating S&POldRating Reason for Rating Action Morgan Stanley Capital I Inc., 1998-XL2 660.7 706.4 C   AAA AA+ Increased subordination - - - D   AA- A - Banc of America ...