CDC MBS Class Downgraded

November 10, 2006, 3:00 p.m. EST 1 Min Read

Class B-2 of CDC Mortgage Capital Trust mortgage pass-through certificates, series 2003-HE1, has been downgraded from BB-minus to B-plus by Fitch Ratings.In addition, Fitch affirmed the ratings on four other classes from the CDC deal. The rating agency attributed the downgrade to a deterioration in the relationship between credit enhancement and expected losses. The pool consists of fixed- and adjustable-rate subprime mortgages, primarily for one- to four-family residential properties. The rating agency can be found online at http://www.fitchratings.com.

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