Five classes from two Credit Suisse First Boston Home Equity Asset Trust transactions have been downgraded by Fitch Ratings.The downgrades were as follows: series 2002-5, class M-2, from A to BBB, and class B-1, from B-plus to CCC/DR1; and series 2003-2, class M-2, from A-minus to BBB, class M-3, from BBB-minus to B, and class B-1, from B to CCC/DR1. Fitch also affirmed the ratings on three other classes in the two transactions. The downgrades were attributed to a deterioration in the relationship between credit enhancement and loss expectations. The collateral consists of first- and second-lien subprime mortgage loans.
Processing Content
