CSFB Classes Downgraded

Four classes of Credit Suisse First Boston Mortgage Securities Corp. commercial mortgage pass-through certificates, series 2000-FL1, have been downgraded by Moody's Investors Service.The downgrades were as follows: class F, from Ba2 to B1; class G, floating-rate, from Ba3 to B3; class H, floating-rate, from B2 to Caa1; and class J, floating-rate, from B3 to Ca. In addition, the rating agency confirmed the ratings of three other classes in the deal. As of the May 17 distribution date, the transaction's aggregate certificate balance had decreased by approximately 63.4%, to $121.7 million, due to the payoff of 27 loans and realized losses of approximately $2.2 million, Moody's said. "Adverse selection has affected the credit quality of the pool, with four of the five remaining loans in special servicing," Moody's said. "Significant losses are anticipated on the San Tomas Loan, a $78.9 million pari passu loan." That loan, plus two others, are real estate owned. Moody's can be found online at http://www.moodys.com.