Fitch Ratings Upgrades Lehman Brothers 2000-LLF C7.

NEW YORK -- Fitch upgrades Lehman Brothers floating-rate commercial mortgage pass-through certificates, series 2000-LLF C7, as follows:

-- $25.8 million class L to 'AAA' from 'BB+';

-- $25.2 million class M to 'BB-' from 'B+'.

The following classes are affirmed by Fitch:

-- Interest only class X-2 at 'AAA';

-- $3.6 million class N at 'B+';

-- $3.6 million class P at 'B';

-- $1.8 million class Q at 'B-';

-- $1.8 million class S at 'B-';

-- $1.4 million class T at 'B-';

-- $1.4 million class U at 'CCC'.

Classes J-BO, K-BO, L-BO, J-CW, K-CW, L-CW, L-BL, and V are not rated by Fitch. BO classes relate to the Boykin loan.

The following classes have been repaid in full: A, X-1, B, C, D, E, F, G, H, J, and K.

The upgrades are due to the increased credit enhancement to the classes as a result of the repayment of the Francisco Bay Office loan. As of the May 2005 distribution, the total principal balance has paid down by 95.2% since issuance.

The Boykin Hotel Portfolio loan, the only loan remaining in the pool, is collateralized by six full-service/limited service hotels. The net cash flow (NCF) for the trailing 12 months (TTM) ended Feb. 28, 2005 for comparable hotels increased 15.9% since TTM April 2004. The current Fitch DSCR was 1.18 times (x), compared with 1.02x for TTM April 30, 2004 and 1.65x at issuance. The TTM Feb. 28, 2005 revenue per available room (RevPAR) increased 9.2% from TTM April 30, 2004. The loan matures July 2005.