S&P Asgn CNL Commercial Mtg Loan Tr 2002-1 Nt Prlm Rt

Business Wire, June 3, 2002

Business Editors

NEW YORK--(BUSINESS WIRE)--Standard & Poor's

June 3, 2002--Standard & Poor's today assigned its preliminary ratings to CNL Commercial Mortgage Loan Trust 2002-1's $125 million commercial mortgage loan notes series 2002-1 (see list).

The preliminary ratings are based on information as of June 3, 2002. Subsequent information may result in the assignment of final ratings that differ from the preliminary ratings.

The preliminary ratings reflect the credit enhancement consisting of subordination, a reserve account, and excess spread. The ratings are also based on CNL Commercial Finance Inc's demonstrated servicing ability.

A copy of Standard & Poor's complete presale report for this transaction is available on RatingsDirect, Standard & Poor's Web-based credit analysis system, at www.ratingsdirect.com. The report is also available on Standard & Poor's Ratings Services Web site at www.standardandpoors.com/ratings. Under Presale Reports, select Structured Finance, then Asset-Backed Securities.

PRELIMINARY RATINGS ASSIGNED
CNL Commercial Mortgage Loan Trust 2002-1

Class               Rating               Amount (mil. $)
A                   AAA                           113.75
B                   A                              11.25

Copyright 2002, Standard & Poor's Ratings Services