Sixteen tranches of CSFB mortgage pass-through certificates issued in 2004 have been downgraded by Moody's Investors Service.Moody's also upgraded one tranche of CSFB pass-throughs. The actions were based on an analysis of the credit enhancement levels provided by excess spread, overcollateralization, and subordinate classes relative to expected losses, the rating agency said. The underlying collateral of the affected tranches consists of first-lien, alternative-A, adjustable-rate mortgage loans.

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