S&P Assigns Prelim Rtgs To GMAC Commercial Mtg Secs

Business Wire, Sept 24, 1997

NEW YORK--(BUSINESS WIRE)--Standard & Poor's CreditWire 9/22/97-- Standard & Poor's Wednesday assigned its preliminary ratings to GMAC Commercial Mortgage Securities Inc. $1.7 billion mortgage pass-through certificates series 1997-C1 (see list below).

The preliminary ratings are based on information as of Sept. 19, 1997. Subsequent information may result in the assignment of final ratings that differ from the preliminary ratings.

The preliminary ratings reflect the credit support provided by the subordinate classes of certificates, the liquidity provided by the servicer and trustee, the economics of the underlying mortgage loans, and the geographic and property type diversity of the loans.

A copy of Standard and Poor's complete presale report for this transaction is available on Standard & Poor's Ratings Services Home Page at http://www.ratings.standardpoor.com under Research Highlights. -- CreditWire -0-

Class     Prelim.        Prelim. Amount      Rec. Credit
          Rtg            (Mil. $)            Support (%)

X         N.R.           N.R.                N.R.
A-1       N.R.           N.R.                N.R.
A-2       N.R.           N.R.                N.R
A-3       N.R.           N.R.                N.R.
B         N.R.           N.R.                N.R.
C         N.R.           N.R.                N.R.
D         N.R.           N.R.                N.R.
E         N.R.           N.R.                N.R.
F         N.R.           N.R.                N.R.
G         BB             84.9                6.5
H         B              59.4                3.0
J         N.R.           N.R.                N.R.
K         N.R.           N.R.                N.R.
N.R.-Not rated by Standard & Poor's.