Last Wednesday Standard & Poor's raised the ratings of five classes of outstanding paper issued by former First Union Corp. unit The Money Store Inc., while simultaneously downgrading one class to below investment-grade status, the company said.

Raised to AAA from AA+ was the MV-1 class of TMS 1997-C offering and the MV-1 class of TMS 1997-D offerings, each backed by 30-year, adjustable-rate, first-lien, subprime home-equity loans.

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