Blue Heron IX CDO Class Downgraded

The class A notes issued by Blue Heron Funding IX Ltd., a collateralized debt obligation consisting partly of residential and commercial mortgage-backed securities, has been downgraded from F1-plus to F1 by Derivative Fitch.In addition, the ratings on two other classes were affirmed. Fitch said the downgrade resulted from a previous downgrade of the short-term rating of Westdeutsche Landesbank Girozentrale, the manager of the CDO. In addition to RMBS and CMBS, the transaction includes asset-backed securities and other CDOs, the rating agency said.