Forty-two classes totaling $785 million from seven subprime issues of Credit Suisse First Boston Mortgage Securities Corp. mortgage pass-through certificates have been downgraded by Fitch Ratings. In addition, Fitch placed three classes on Rating Watch Negative, removed two classes from Rating Watch Negative, and affirmed the ratings on 21 CSFB classes. The downgrades were based on deterioration in the relationship between credit enhancement and expected losses, Fitch said. The collateral for the transactions consists of second-lien subprime mortgage loans.
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