LB-UBS CMBS Classes Downgraded

Six classes of commercial mortgage pass-through certificates issued by LB-UBS Commercial Mortgage Trust 2002-C2 have been downgraded by Moody's Investors Service.The downgrades were as follows: class M, from Ba2 to Ba3; class N, from Ba3 to B2; class P, from B1 to B3; class Q, from B2 to Caa1; class S, from B3 to Caa2; and class T, from Caa2 to Caa3. In addition, Moody's upgraded two classes and affirmed the ratings on 14 classes in the deal. The rating agency said the downgrades were due to six specially serviced loans for which it is projecting "significant" losses.