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Related Issuers
Artesia Mortgage CMBS 1998-C1
Banc of America Commercial Mortgage Inc. 2000-2
Banc of America Commercial Mortgage Inc. Commercial Mortgage Pass-Through Certificates, Series 2001-1
Banc of America Commercial Mortgage Inc. Series 2001-PB1
Bear Stearns Commercial Mortgage Securities Inc 1999-WF2
COMM 1999-1
Commercial Mortgage Acceptance Corp 1999-C1
Credit Suisse First Boston Mortgage Securities Corp. Commercial Mortgage Pass-Through Certificates, Series 2003-CK2
CS First Boston Mortgage Securities Corp 2001-CF2
CS First Boston Mortgage Securities Corp 2001-CK1
CS First Boston Mortgage Securities Corp 2001-CK6
CS First Boston Mortgage Securities Corp 2001-CKN5
DLJ Commercial Mortgage Corp 1998-CF1
DLJ Commercial Mortgage Corp 1999-CG2
DLJ Commercial Mortgage Corp 1999-CG2 (Duplicate)
First Union National Bank - Bank of America, N.A. Commercial Mortgage Pass-Through Certificates Series 2001-C1
First Union-Lehman Brothers Commercial Mortgage Trust II, Series 1997-C2
First Union-Lehman Brothers Commerical Mortgage Trust 1997-C1
First Union-Lehman Brothers-Bank of America 1998-C2
GE Capital Commercial Mortgage Corp., Series 2001-1
GE Capital Commercial Mortgage Corporation Pass-Through Certificates, Series 2001-2
GE Capital Commercial Mortgage Corporation, Series 2000-1
GMAC Commercial Mortgage Securities Inc 1999-C3
Greenwich Capital Commercial Funding Corp. Commercial Mortgage Pass-Through Certificates, Series 2002-C1
Greenwich Capital Commercial Funding Corp., 2003-C2
GS Mortgage Securities Corporation II 1999-C1
Heller Financial Commercial Mortgage Asset Corp. 1999 PH-1
J.P. Morgan Commercial Mortgage Finance Corp 1997-C5
LB Commercial Mortgage Trust 1998-C1
LB Commercial Trust 1998-C4
LB-UBS Commercial Mortgage Trust 2000-C3
Morgan Stanley Capital I Inc. 1997-WF1
Morgan Stanley Dean Witter Capital I Trust 2000-LIFE2
Mortgage Capital Funding Inc 1997-MC1
NationsLink Funding Corporation 1998-1
NationsLink Funding Corporation 1998-2
NationsLink Funding Corporation 1999-1
Paine Webber Mortgage Acceptance Corporation V 1999-C1
PNC Mortgage Acceptance Corp., Commercial Mortgage Pass-Through Certificates, Series 2000-C2
PNC Mortgage Acceptance Corp., Commercial Mortgage Pass-Through Certificates, Series 2001-C1
Prudential Securities Secured Financing Corporation 1998-C1
Prudential Securities Secured Financing Corporation 1999-NRF1
Salomon Brothers Mortgage Securities VII, Inc. 2000-C2
Wachovia Bank Commercial Mortgage Trust 2003-C6
Wachovia Bank Commercial Mortgage Trust 2004-C10
Rating Action:

MOODY'S INVESTORS SERVICE UPGRADES 85 CLASSES OF 44 SECURITIZATIONS; 51 CLASSES PLACED ON REVIEW FOR FURTHER POSSIBLE UPGRADE

02 Aug 2006
MOODY'S INVESTORS SERVICE UPGRADES 85 CLASSES OF 44 SECURITIZATIONS; 51 CLASSES PLACED ON REVIEW FOR FURTHER POSSIBLE UPGRADE

Approximately $3.3 Billion of Structured Securities Affected

New York, August 02, 2006 -- Moody's Investors Service is upgrading 85 classes of 44 CMBS securitizations and placing 51 classes on review for further possible upgrade as follows:

First Union-Lehman Brothers Commercial Mortgage Trust, Series 1997-C1

-Class D, $71,800,000, Fixed, upgraded to Aaa from Aa1

-Class E, $19,582,000, Fixed, upgraded to Aaa from Aa2

First Union-Lehman Brothers Commercial Mortgage Trust II, Series 1997-C2

-Class D, $121,194,000, Fixed, upgraded to Aa1 from Aa3; on review for possible upgrade

-Class E, $33,052,000, Fixed, upgraded to Aa3 from A1; on review for possible upgrade

J.P. Morgan Commercial Mortgage Finance Corp., Series 1997-C5

-Class D, $56,856,000, Fixed, upgraded to Aaa from Aa1

-Class E, $15,506,000, Fixed, upgraded to Aaa from A1

Morgan Stanley Capital I Inc., Series 1997-WF1

-Class E, $11,183,000, Fixed, upgraded to Aaa from Aa2

Mortgage Capital Funding, Inc., Series 1997-MC1

-Class D, $32,927,083, Fixed, upgraded to Aaa from A2

-Class E, $13,170,833, Fixed, upgraded to A2 from Baa2

Artesia Mortgage CMBS, Inc., Series 1998-C1

-Class D, $9,816,000, Net WAC, upgraded to Aaa from Aa2

-Class E, $3,272,000, Net WAC, upgraded to Aa2 from A1; on review for possible upgrade

DLJ Commercial Mortgage Corp., Series 1998-CF1

-Class A-3, $50,300,000, WAC, upgraded to Aaa from Aa1

First Union-Lehman Brothers-Bank of America Commercial Mortgage Trust, Series 1998-C2

-Class D, $204,483,000, Fixed, upgraded to Aa2 from A1; on review for possible upgrade

-Class E, $68,161,000, Fixed, upgraded to A1 from A3; on review for possible upgrade

-Class F, $51,121,000, Fixed, upgraded to Baa1 from Baa2; on review for possible upgrade

LB Commercial Mortgage Trust, Series 1998-C1

-Class D, $90,710,000, Fixed, upgraded to Aa1 from Aa3

NationsLink Funding Corporation, Series 1998-1

-Class D, $48,478,526, Fixed, upgraded to Aa2 from Aa3; on review for possible upgrade

NationsLink Funding Corporation, Series 1998-2

-Class C, $95,165,239, Fixed, upgraded to Aaa from Aa1

-Class D, $83,269,584, Fixed, upgraded to Aaa from A2

LB Commercial Mortgage Trust, Series 1998-C4

-Class C, $106,344,000, Fixed, upgraded to Aaa from Aa1

-Class D, $121,535,000, Fixed, upgraded to A2 from A3; on review for possible upgrade

Prudential Securities Secured Financing Corp., Series 1998-C1

-Class D, $60,310,000, WAC, upgraded to Aaa from Aa3

-Class E, $17,232,000, WAC, upgraded to Aa2 from A1; on review for possible upgrade

Bear Stearns Commercial Mortgage Securities Inc., Series 1999-WF2

-Class C, $43,229,000, WAC, upgraded to Aa1 from Aa2; on review for possible upgrade

-Class D, $10,807,000, WAC, upgraded to Aa3 from A1; on review for possible upgrade

COMM 1999-1

-Class D, $62,280,000, Fixed, upgraded to Aaa from Aa2

-Class E, $81,947,000, Fixed, upgraded to A2 from A3; on review for possible upgrade

Commercial Mortgage Acceptance Corp., Series 1999-C1

-Class D, $11,007,000, WAC, upgraded to Aaa from Aa1

DLJ Commercial Mortgage Corp., Series 1999-CG2

-Class A-3, $81,398,000, Fixed, upgraded to Aaa from Aa1

GMAC Commercial Mortgage Securities, Inc., Series 1999-C3

-Class D, $20,160,000, WAC, upgraded to Aaa from Aa2

GS Mortgage Securities Corporation II, Series 1999-C1

-Class D, $57,888,000, WAC, upgraded to Aa2 from A1; on review for possible upgrade

-Class E, $13,359,000, WAC, upgraded to A3 from Baa1; on review for possible upgrade

Heller Financial Commercial Mortgage Asset Corp., Series 1999 PH-1

-Class D, $53,011,000, WAC, upgraded to Aaa from Aa2

-Class E, $12,622,000, WAC, upgraded to Aa2 from Aa3; on review for possible upgrade

NationsLink Funding Corporation, Series 1999-1

-Class C, $61,107,271, Fixed, upgraded to Aaa from Aa1

-Class D, $67,217,999, Fixed, upgraded to Aa3 from A2, on review for possible upgrade

-Class E, $33,608,999, Fixed, upgraded to A2 from A3; on review for possible upgrade

Paine Webber Mortgage Acceptance Corp. V, Series 1999-C1

-Class B, $35,238,000, Fixed, upgraded to Aaa from Aa1

-Class C, $37,000,000, Fixed, upgraded to Aa1 from A1; on review for possible upgrade

-Class D, $33,476,000, Fixed, upgraded to A3 from Baa2; on review for possible upgrade

Prudential Securities Secured Financing Corporation, Series 1999-NRF1

-Class C, $46,447,000, Fixed, upgraded to Aaa from Aa2

-Class D, $46,447,000, WAC, upgraded to A1 from A3; on review for possible upgrade

-Class E, $13,935,000, WAC, upgraded to A3 from Baa1; on review for possible upgrade

Banc of America Commercial Mortgage Inc., Series 2000-2

-Class B, $37,816,366, Fixed, upgraded to Aaa from Aa1

-Class C, $24,469,413, Fixed, upgraded to Aaa from Aa3

-Class D, $17,795,938, Fixed, upgraded to Aa1 from A1; on review for possible upgrade

-Class E, $8,897,968, Fixed, upgraded to Aa3 from A2, on review for possible upgrade

-Class F, $11,122,461, Fixed, upgraded to A2 from A3; on review for possible upgrade

-Class G, $17,795,937, WAC, upgraded to Baa1 from Baa2; on review for possible upgrade

GE Capital Commercial Mortgage Corporation, Series 2000-1

-Class B, $28,293,243, Fixed, upgraded to Aaa from Aa2

LB-UBS Commercial Mortgage Trust 2000-C3

-Class C, $48,964,000, Fixed, upgraded to Aa1 from Aa3; on review for possible upgrade

-Class D, $19,585,000, Fixed, upgraded to Aa3 from A1; on review for possible upgrade

-Class E, $13,057,000, Fixed, upgraded to A2 from A3; on review for possible upgrade

Morgan Stanley Dean Witter Capital I Trust 2000-LIFE2

-Class B, $22,961,000, Fixed, upgraded to Aaa from Aa1

PNC Mortgage Acceptance Corp., Series 2000-C2

-Class C, $48,423,000, Fixed, upgraded to Aa1 from Aa3; on review for possible upgrade

-Class D, $13,452,000, Fixed, upgraded to Aa3 from A1; on review for possible upgrade

-Class E, $13,451,000, WAC, upgraded to A1 from A2; on review for possible upgrade

Salomon Brothers Mortgage Securities VII, Inc., Series 2000-C2

-Class B, $33,214,000, Fixed, upgraded to Aa1 from Aa2; on review for possible upgrade

Banc of America Commercial Mortgage Inc., Series 2001-1

-Class B, $35,576,642, Fixed, upgraded to Aaa from Aa2

-Class C, $21,345,985, Fixed, upgraded to Aa3 from A1; on review for possible upgrade

Banc of America Commercial Mortgage Inc., Series 2001-PB1

-Class B, $37,531,329, Fixed, upgraded to Aaa from Aa2

-Class C, $9,382,832, Fixed, upgraded to Aa1 from Aa3; on review for possible upgrade

-Class D, $11,728,540, Fixed, upgraded to Aa2 from A1; on review for possible upgrade

Credit Suisse First Boston Mortgage Securities Corp., Series 2001-CF2

-Class B, $43,796,000, Fixed, upgraded to Aa1 from Aa2; on review for possible upgrade

Credit Suisse First Boston Mortgage Securities Corp., Series 2001-CK1

-Class C, $45,441,000, Fixed, upgraded to Aa3 from A1; on review for possible upgrade

Credit Suisse First Boston Mortgage Securities Corp., Series 2001-CK6

-Class C, $14,646,000, Fixed, upgraded to Aa1 from Aa2; on review for possible upgrade

Credit Suisse First Boston Mortgage Securities Corp., Series 2001-CKN5

-Class B, $37,548,000, Fixed, upgraded to Aaa from Aa1

-Class C, $18,773,000, Fixed, upgraded to Aa1 from Aa2; on review for possible upgrade

First Union National Bank-Banc of America N.A. Commercial Mortgage Trust, Series 2001-C1

-Class B, $52,331,000, Fixed, upgraded to Aaa from Aa1

GE Capital Commercial Mortgage Corporation, Series 2001-1

-Class C, $49,390,000, Fixed, upgraded to Aa2 from A1; on review for possible upgrade

-Class D, $15,523,000, Fixed, upgraded to A1 from A2, on review for possible upgrade

GE Capital Commercial Mortgage Corporation, Series 2001-2

-Class B, $40,115,000, Fixed, upgraded to Aaa from Aa1

PNC Mortgage Acceptance Corp., Series 2001-C1

-Class C-1, $18,856,000, Fixed, upgraded to Aa2 from Aa3; on review for possible upgrade

-Class C-2, $12,000,000, Fixed, upgraded to Aa2 from Aa3; on review for possible upgrade

-Class D, $11,020,000, Fixed, upgraded to A1 from A2; on review for possible upgrade

Greenwich Capital Commercial Funding Corp., Series 2002-C1

-Class B, $46,515,000, Fixed, upgraded to Aaa from Aa1

-Class C, $11,629,000, Fixed, upgraded to Aa1 from Aa2; on review for possible upgrade

Credit Suisse First Boston Mortgage Securities Corp., Series 2003-CK2

-Class B, $32,118,000, Fixed, upgraded to Aaa from Aa1

-Class C, $12,353,000, Fixed, upgraded to Aaa from Aa2

-Class D, $29,647,000, Fixed, upgraded to Aa3 from A1; on review for possible upgrade

-Class E, $12,353,000, Fixed, upgraded to A1 from A2; on review for possible upgrade

Greenwich Capital Commercial Funding Corp., Series 2003-C2

-Class B, $52,075,000, Fixed, upgraded to Aa1 from Aa2; on review for possible upgrade

Wachovia Bank Commercial Mortgage Trust, Series 2003-C6

-Class B, $29,774,000, Fixed, upgraded to Aa1 from Aa2; on review for possible upgrade

-Class C, $13,101,000, Fixed, upgraded to Aa2 from Aa3; on review for possible upgrade

Wachovia Bank Commercial Mortgage Trust, Series 2004-C10

-Class B, 38,703,000, Fixed, upgraded to Aa1 from Aa2; on review for possible upgrade

Moody's Investors Service's quantitative ("Q") tools, including Moody's Commercial Mortgage Metrics (CMM™) and Moody's Surveillance Trend (MOST™) Scores have enabled us to conduct a portfolio wide review and identify and upgrade CMBS transactions with significant changes to their credit profile since their last full review. Moody's new quantitative approach will supplement but not replace our conventional approach of detailed transactional analysis. Significant amortization buildup, pay downs and defeasance have helped boost the credit profile of the above referenced classes, resulting in the upgrades.

The affected transactions passed a set of six filters to be qualified for Q tool based upgrades, which are discussed in detail in "US CMBS: Q Tool Based Portfolio Review Results in Numerous Upgrades, August 2, 2006", which is available on moodys.com. Other transactions may qualify for Q tool based upgrades at a later date as more full-year 2005 performance data becomes available on the underlying collateral.

New York
Tad Philipp
Managing Director
Structured Finance Group
Moody's Investors Service
JOURNALISTS: 212-553-0376
SUBSCRIBERS: 212-553-1653

New York
Pamela Dent
Senior Vice President
Structured Finance Group
Moody's Investors Service
JOURNALISTS: 212-553-0376
SUBSCRIBERS: 212-553-1653

No Related Data.
© 2019 Moody’s Corporation, Moody’s Investors Service, Inc., Moody’s Analytics, Inc. and/or their licensors and affiliates (collectively, “MOODY’S”). All rights reserved.

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