Class BF-4 of Salomon Brothers Mortgage Securities VII mortgage pass-through certificates, series 2001-UP2 group 1, has been downgraded from B to CCC by Fitch Ratings.Fitch also affirmed the ratings on 10 classes in the transaction. The downgrade was attributed to poor collateral performance and a deterioration of asset quality beyond original expectations. The series consists of 30-year fixed-rate and 15-year adjustable-rate mortgage loans. The rating agency can be found on the Web at http://www.fitchratings.com.

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