S&P Lowers Ratings on Lehman CMBS

The ratings on 10 classes of Lehman Brothers Floating Rate Commercial Mortgage Trust 2000-LLF C7 multiclass pass-through certificates have been lowered by Standard & Poor's Ratings Services.The lowered ratings were as follows: class M, from BB-plus to BB; class N, from BB to B-plus; class P, from BB-minus to B; class Q, from B-plus to CCC-plus; class S, from B to CCC; class T, from B-minus to CCC; class U, from CCC to CCC-minus; class J-BO, from BBB-plus to BB-minus; class K-BO, from BBB to B-plus; and class L-BO, from BBB-minus to B. In addition, the ratings on seven other classes in the deal were raised, and the ratings on five classes were affirmed. S&P said the deal now contains 11 adjustable-rate loans from the original 21 loans at issuance, and it attributed the lowered ratings to four loans: MGM Plaza, Boykin Portfolio, Hampshire Hotels, and Francisco Bay Office. The rating agency can be found online at http://www.standardandpoors.com.