BoA Large-Loan Classes Downgraded

Two classes of Banc of America Large Loan Inc.'s series 2002-FLT1 have been downgraded by Fitch Ratings.Class H was downgraded from BBB to BBB-minus, and class J was downgraded from BB-plus to BB. In addition, five other classes in the deal were upgraded, and the ratings on five others were affirmed. The downgrades were attributed to a decline in market conditions for a loan secured by the Central Research Park office property in Sunnyvale, Calif. In a related action, Fitch downgraded two classes of Banc of America Structured Notes Inc., series 2002-1. Class A was downgraded from BBB to BBB-minus, and class B was downgraded from BB-plus to BB. The ratings on the BASN classes depend on the ratings of the underlying certificates, classes H and J of the BALL transaction.