S&P Raises Ratings on Various Ser of Shearson Lehman Securities Inc

Apr 26, 2001, 01:00 ET from Standard & Poor's

    NEW YORK, April 26 /PRNewswire/ -- Standard & Poor's today raised its
 ratings on various classes of three series of Shearson Lehman Pass-Through
 Securities Inc. (see list). As of the March 25, 2001 payment date,
 approximately $28.1 million of rated debt is affected.
      The raised ratings reflect the classes' sufficient current and projected
 credit support percentages that range from two to four times the levels
 originally recommended for the newly assigned ratings. The credit support for
 each series is provided through the subordination of the class B certificates
 and the reserve fund accounts.
     As of the March 2001 remittance date, total delinquencies for series 1988-
 1, 1988-3, and 1988-5 were 10.19%, 10.47%, and 8.28%, respectively, and
 cumulative realize losses as a percentage of original pool balances were
 7.17%, 0.67%, and 7.23%, respectively. The high delinquency ratio is
 attributable to its low pool factor. The outstanding pool balances of these
 series are no greater than 15% of their original size. These transactions
 benefit from 13 years of seasoning.
     The collateral for each series comprises 30-year, adjustable-rate,
 conventional, fully amortizing, mortgage loans secured by owner-occupied
 properties, Standard & Poor's said.
     -- CreditWire
 
      OUTSTANDING RATINGS RAISED
 
      Shearson Lehman Pass-Through Securities Inc.
      Series     Class      Rating
                          To       From
      1988-1     A-1      AAA      AA
      1988-1     A-2      AAA      AA
      1988-3     A        AAA      AA+
      1988-5     A-1      AAA      AA+
      1988-5     A-2      AAA      AA+
 
 

SOURCE Standard & Poor's
    NEW YORK, April 26 /PRNewswire/ -- Standard & Poor's today raised its
 ratings on various classes of three series of Shearson Lehman Pass-Through
 Securities Inc. (see list). As of the March 25, 2001 payment date,
 approximately $28.1 million of rated debt is affected.
      The raised ratings reflect the classes' sufficient current and projected
 credit support percentages that range from two to four times the levels
 originally recommended for the newly assigned ratings. The credit support for
 each series is provided through the subordination of the class B certificates
 and the reserve fund accounts.
     As of the March 2001 remittance date, total delinquencies for series 1988-
 1, 1988-3, and 1988-5 were 10.19%, 10.47%, and 8.28%, respectively, and
 cumulative realize losses as a percentage of original pool balances were
 7.17%, 0.67%, and 7.23%, respectively. The high delinquency ratio is
 attributable to its low pool factor. The outstanding pool balances of these
 series are no greater than 15% of their original size. These transactions
 benefit from 13 years of seasoning.
     The collateral for each series comprises 30-year, adjustable-rate,
 conventional, fully amortizing, mortgage loans secured by owner-occupied
 properties, Standard & Poor's said.
     -- CreditWire
 
      OUTSTANDING RATINGS RAISED
 
      Shearson Lehman Pass-Through Securities Inc.
      Series     Class      Rating
                          To       From
      1988-1     A-1      AAA      AA
      1988-1     A-2      AAA      AA
      1988-3     A        AAA      AA+
      1988-5     A-1      AAA      AA+
      1988-5     A-2      AAA      AA+
 
 SOURCE  Standard & Poor's