Bear Stearns CMBS Classes Downgraded

The ratings on classes G through L of Bear Stearns Commercial Mortgage Securities Inc. commercial mortgage pass-through securities, series 2000-WF1, have been lowered by Standard & Poor's Ratings Services.The downgrades were as follows: class G, from BB-plus to BB; class H, from BB to BB-minus; class I, from BB-minus to B-plus; class J, from B-plus to B; class K, from B to CCC; and class L, from B-minus to D. In addition, classes J, K, and L were removed from CreditWatch negative, and the ratings on eight other classes in the deal were affirmed, the rating agency said. The downgrades were attributed to delinquencies, specially serviced loans, and watchlist items. Interest shortfalls have accumulated on classes K and L as a result of appraisal reductions and special servicing fees, S&P said. The rating agency can be found online at http://www.standardandpoors.com.