CSFB CMBS Ratings Lowered

The ratings of five classes of Credit Suisse First Boston Mortgage Securities Corp.'s commercial mortgage pass-through certificates, series 2001-FL2, have been lowered by Standard & Poor's Ratings Services.The ratings were lowered as follows: class J, from BB to BB-minus; class K, from BB-minus to B; class L, from B-plus to B-minus; class M, from B to CCC-plus; and class N, from B-minus to CCC. The ratings on classes K, L, M and N were also placed on CreditWatch negative. Ratings were affirmed on 10 other classes of the series and raised on four other classes. "The lowered ratings are the result of the pool's overall debt service coverage decline since issuance and the weakened operating performance of five loans," S&P said. "The CreditWatch placement of the four downgraded classes reflects the interest shortfalls that are occurring in various classes whose interest recovery is expected in the next few months. If the interest recoveries should extend beyond that period, the ratings on some or all of the shorted classes will be set to D." S&P can be found online at http://www.standardandpoors.com.