Five classes from the Credit Based Asset Servicing and Securitization LLC series 2004-CB8 transaction have been downgraded by Fitch Ratings. The downgrades were as follows: class M-3, from A to A-minus; class B-1, from A-minus to BBB-plus; class B-2, from BBB-plus to BBB-minus; class B-3, from BBB to BB; and class B-4, from BB to B (and removed from Rating Watch Negative). The downgrades were based on deterioration in the relationship between credit enhancement and loss expectations, Fitch said. The collateral consists primarily of first-lien subprime mortgages.
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