In Brief: S&P Raises Its Rating On Dime Pass-Throughs

NEW YORK - Standard & Poor's has raised its rating on Class A of the Dime Savings Bank of New York mortgage pass- through certificates series 1988-1 to BBB from BBB-minus.

The upgrade, which affects about $46.4 million of certificates, results from Dime's entrance into a credit support, security and custody agreement with State Street Bank and Trust Co.

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