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Related Issuers
Bear Stearns Commercial Mortgage Securities Inc 1999-C1
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
Deutsche Mortgage & Asset Receiving Corporation 1998-C1
DLJ Commercial Mortgage Corp 1999-CG2 (Duplicate)
DLJ Commercial Mortgage Trust 2000-CKP1
First Union Commercial Mortgage Trust 1999-C1
First Union National Bank Commercial Mortgage Trust Pass-Through Certificates, Series 2002-C1
GE Capital Commercial Mortgage Corporation, Series 2000-1
GE Commercial Mortgage Pass-Through Certificates, Series 2002-2
GMAC Commercial Mortgage Securities, Inc. 2000-C1
Greenwich Capital Commercial Funding Corp. Commercial Mortgage Pass-Through Certificates, Series 2002-C1
Greenwich Capital Commercial Funding Corp., 2004-GG1
J.P. Morgan Chase Commercial Mortgage Securities Corp., Pass-Through Certificates, Ser. 2002-CIBC4
Merrill Lynch Financial Assets Inc. Commercial Mortgage Pass-Through Certificates, Series 2002-Canada 8
Morgan Stanley Capital I Inc. 1998-CF1
Morgan Stanley Capital I Inc. 1999-WF1
Morgan Stanley Dean Witter Capital I Trust Commercial Mortgage Pass-Through Certificates, Series 2001-TOP5
Salomon Brothers Mortgage Securities VII, Inc. 1999-C1
Solar Trust Commercial Mortgage Pass-Through Certificates, Series 2003-CC1
Wachovia Bank Commercial Mortgage Trust 2002-C2
Wachovia Bank Commercial Mortgage Trust 2004-C10
Washington Mutual Asset Securities Corp. Commercial Mortgage Pass-Through Ctfs., Series 2003-C1
Washington Mutual Multifamily Mortgage 2001-1 Limited, Secured Notes, Series 2001-1
Rating Action:

Moody's Investors Service Upgrades 35 Classes of 25 Securitizations

20 Dec 2007
Moody's Investors Service Upgrades 35 Classes of 25 Securitizations

Approximately $679.6 Million of Structured Securities Affected

New York, December 20, 2007 -- Moody's Investors Service is upgrading 35 classes of 25 CMBS securitizations as follows:

Deutsche Mortgage & Asset Receiving Corporation 1998-C1

-Class E, $27,248,000, upgraded to Aaa from Aa3

Morgan Stanley Capital I Inc. 1998-CF1

-Class D, $60,901,000, upgraded to Aa3 from A3

First Union Commercial Mortgage Trust 1999-C1

-Class E, $17,482,000, upgraded to Aa1 from Aa2

Bear Stearns Commercial Mortgage Securities, Inc., Series 1999-C1

-Class D, $21,510,179, upgraded to Aa3 from A1

-Class E, $5,975,050, upgraded to A2 from A3

Morgan Stanley Capital I Inc. 1999-WF1

-Class G, $9,685,000, upgraded to Aa3 from A1

-Class H, $19,370,000, upgraded to Baa1 from Baa2

DLJ Commercial Mortgage Corp. 1999-CG2

-Class B1, $58,141,000, upgraded to Aa1 from Aa2

Commercial Mortgage Acceptance Corp. 1999-C1

-Class G, $1,834,000, upgraded to Aaa from Aa1

Salomon Brothers Mortgage Securities VII, Inc. 1999-C1

-Class G, $14,697,000, upgraded to Aaa from Aa2

GMAC Commercial Mortgage Securities, Inc. 2000-C1

-Class E, $30,796,000, upgraded to A1 from A2

DLJ Commercial Mortgage Trust 2000-CKP1

-Class B1, $16,124,000, upgraded to Aa3 from A1

GE Capital Commercial Mortgage Corp., Series 2000-1

-Class C, $31,829,898, upgraded to Aa3 from A1

CS First Boston Mortgage Securities Corp., Series 2001-CF2

-Class C, $49,271,000, upgraded to Aaa from Aa3

-Class D, $10,949,000, upgraded to Aa2 from A2

-Class E, $16,423,000, upgraded to A3 from Baa1

Washington Mutual Multifamily Mortgage 2001-1Limited

-Class B3, $6,285,000, upgraded to Aa2 from Aa3

Morgan Stanley Dean Witter Capital I Trust, Series 2001-TOP5

-Class C, $28,655,000, upgraded to Aa1 from Aa2

-Class D, $10,420,000, upgraded to Aa3 from A1

First Union National Bank Commercial Mortgage Trust, Series 2002-C1

-Class D, $9,104,000, upgraded to Aa1 from Aa2

J.P. Morgan Chase Commercial Mortgage Securities Corp, 2002-CIBC4

-Class C, $33,954,000, upgraded to Aaa from Aa1

-Class D, $9,986,000, upgraded to Aa2 from Aa3

GE Commercial Mortgage 2002-2

-Class F, $9,717,000, upgraded to Aa2 from Aa3

Wachovia Bank Commercial Mortgage Trust 2002-C2

-Class E, $8,751,000, upgraded to Aaa from Aa1

Merrill Lynch Financial Assets Inc., Series 2002-Canada 8

-Class B, $11,700,000, upgraded to Aaa from Aa1

-Class C, $12,880,000, upgraded to Aa3 from A1

-Class D, $12,888,000, upgraded to Baa1 from Baa2

Greenwich Capital Commercial Funding Corp., Series 2002-C1

-Class F, $15,990,000, upgraded to Aaa from Aa1

-Class G, $15,989,000, upgraded to Aa2 from Aa3

Washington Mutual Asset Securities Corp., Series 2003-C1

-Class E, $2,860,000, upgraded to Aa1 from Aa2

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

-Class D, $29,647,000, upgraded to Aaa from Aa1

-Class E, $12,353,000, upgraded to Aa1 from Aa2

Solar Trust, Series 2003-CC1

-Class C, $14,040,000, upgraded to Aa3 from A1

Wachovia Bank Commercial Mortgage Trust 2004-C10

-Class C, $16,127,000, upgraded to Aa1 from Aa2

Greenwich Capital Commercial Funding Corp., 2004-GG1

-Class C, $26,021,000, upgraded to Aa1 from Aa2

Moody's Investors Service has used its quantitative ("Q") tools, including Moody's Commercial Mortgage Metrics (CMM™) and Moody's Surveillance Trend (MOST™) Scores to conduct a portfolio wide review to identify CMBS transactions with significant changes to their credit profile since their last comprehensive review. Moody's quantitative approach supplements but does 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. Moody's will continue to utilize Q tools periodically in order to effectively monitor those securitizations with a significant shift in credit profile.

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

New York
Michael M. Gerdes
Senior Vice President
Structured Finance Group
Moody's Investors Service
JOURNALISTS: 212-553-0376
SUBSCRIBERS: 212-553-1653

No Related Data.
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