MSDW MBS Classes Downgraded

Six classes of Morgan Stanley Dean Witter Mortgage Capital 2000-F1 have been downgraded by Fitch Ratings.The downgrades were as follows: class B, from A-plus to BBB; class C, from BBB-plus to BB; class D, from BBB to B; class E, from BB-minus to C; class F, from B-plus to C; and class G, from B-minus to C. The downgrades were attributed to reductions in the credit enhancement that Fitch expects to be available to support each class. "As many loans in default have remained unresolved, recovery expectations have decreased while interest liabilities continually detract from collections," the rating agency said. "These lowered expectations in conjunction with incurred losses on existing defaults have reduced subordination and credit enhancement available to outstanding bonds." Fitch can be found online at http://www.fitchratings.com.