Two classes from CS First Boston Mortgage Securities Corp. series 1997-1R, a resecuritization backed by other residential mortgage-backed securities, have been downgraded by Moody's Investors Service.Class 1-B3 was downgraded from B2 to B3, and class 1-B4 was downgraded from B3 to Caa2. In addition, Moody's upgraded three other classes from the transaction. The downgrades were attributed to weak performance by the underlying securities and reduced credit enhancement relative to the projected losses on the underlying securities.
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