German Deal Downgraded

Moody's Investors Service has downgraded certain of German lender Westdeutsche Immobilienbank's obligations that are secured by notes credit-linked to a pool of commercial mortgages.

Moody's office here has downgraded the class A+ and class A notes issued from Westdeutsche Immobilienbank's Real Value One program to the slightly lower investment grade rating of Aa2 from Aaa. Moody's also downgraded the class B notes from the program to the investment grade rating of Aa3 from Aa2.

Approximately 112.85 euros (about $121.89 million) of rated securities are affected by the downgrades.

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