NEW YORK - Dime Savings Bank of New York has received a credit upgrade on its Class A mortgage pass-through certificates, to BBB from BBB- minus.

The upgrade, from Standard & Poor's Ratings Group affects $46.4 million series 1988-1 securities.

S&P cited the stability provided by Dime's recent credit support, security, and custody agreements with State Street Boston Corp.

The arrangement "has improved the credit protection available to the certificate holders," S&P's notice said.

The rating agency also raised its rating on $7.7 million of Class B1 mortgage certificates issued by Marine Midland Bank.

The Buffalo bank's recent retirement of Class A certificates frees up additional credit support that can now be applied to the B classes of mortgage debt.

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