Class M1 of the DLJ ABS Trust series 2000-5 securitization of subprime mortgage loans has been downgraded from Aa2 to A3 by Moody's Investors Service.Moody's also confirmed the ratings of the A-1 and A-3 classes from the same transaction. The downgrade was based on the high proportion of delinquent loans relative to the available overcollateralization, the rating agency said. "Relatively high loss severities in recent months caused a significant deterioration of overcollateralization, which has since stabilized and begun to build back towards its target amount," the rating agency said. Moody's can be found online at http://www.moodys.com.
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