S&P Lwrs Rtg on Corp Backed Trust Certs Ser 2001-8 Tr

    NEW YORK--Standard & Poor's--Oct. 21, 2002--Standard & Poor's Ratings Services today lowered its rating on Corporate Backed Trust Certificates Series 2001-8 Trust to triple-'B' from triple-'B'-plus (see list).
    The lowered rating reflects General Motors Corp.'s long-term corporate credit and senior unsecured debt ratings, which were lowered on Oct. 16, 2002.
    Corporate Backed Trust Certificates Series 2001-8 Trust is a swap-independent synthetic transaction that is weak-linked to the underlying collateral, General Motors Corp.'s debt. The revised rating reflects the credit quality of the underlying securities issued by General Motor Corp.
    A copy of the General Motors Corp.-related press release dated Oct. 16, 2002 is available on RatingsDirect, Standard & Poor's Web-based credit analysis system.

RATINGS LOWERED

Corporate Backed Trust Certificates Series 2001-8 Trust
$32,575,000 corporate-backed trust certs series 2001-8

Class        Rating
          To       From
A-1       BBB      BBB+