CSFB MBS Classes Downgraded

Five classes in two CSFB Mortgage Securities Corp. mortgage-backed pass-through certificates have been downgraded by Fitch Ratings.The downgrades were as follows: series 2002-22 group 3, class DB3, from BBB to BB, class DB4, from B to CC, and class DB5, from CC to C; and series 2002-32R, class M, from BBB-minus to BB-minus, and class B-1, from BB-minus to CCC. In addition, Fitch affirmed the ratings on 10 classes from five CSFB issues. The downgrades were attributed to the deterioration of credit enhancement relative to consistent or rising monthly losses. The underlying trust for series 2002-22 group 3 consists primarily of 15-year and 30-year fixed-rate one- to four-family residential first-mortgage loans.