CSFB CMBS Classes Downgraded

Six classes of Credit Suisse First Boston Mortgage Securities Corp. commercial mortgage pass-through certificates, series 2002-TFL1, have been downgraded by Fitch Ratings.The downgrades were as follows: class E, from A-minus to BBB-minus; class F-ABP, from BBB-plus to BBB-minus; class G-ABP, from BBB-minus to BB-plus; class H-ABP, from BBB-plus to B-plus; class F-WBC, from BB-plus to B-plus; and class G-WBC, from BB-minus to B-minus. Classes E, F-WBC, and G-WBC were removed from Rating Watch Negative. In addition, Fitch placed three classes on Rating Watch Evolving and affirmed the ratings on eight other classes in the transaction. The downgrades were attributed to the pool's declining performance since issuance.

Processing Content

For reprint and licensing requests for this article, click here.
Servicing
MORE FROM NATIONAL MORTGAGE NEWS
Load More