The ratings on three classes of Credit Suisse First Boston Mortgage Securities Corp.'s commercial mortgage pass-through certificates, series 1997-C1, have been lowered by Standard & Poor's Ratings Services.The downgrades were as follows: class F, from BB to B-plus; class G, from BB-minus to B; and class H, from B to CCC. The ratings on classes A-1B, A-1C, and A-2 in the deal were affirmed. S&P said the rating actions "reflect anticipated credit support erosion upon the eventual disposition of some of the specially services assets, and concerns regarding the watchlist loans, particularly those secured by lodging properties." S&P can be found online at http://www.standardandpoors.com.
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