Eleven classes of notes issued by two collateralized debt obligations linked to subprime or alternative-A residential mortgage-backed securities have been downgraded by Fitch Ratings. The affected securities include seven classes from Charles River CDO I Ltd./Inc., and four classes from Northlake CDO I Ltd., both structured finance CDOs. All the downgraded classes were removed from Rating Watch Negative, as well as an additional class whose rating was affirmed. The downgrades were attributed variously to collateral deterioration in the portfolios from subprime and alt-A RMBS as well as to underlying exposure to subprime RMBS. Fitch can be found online at http://www.fitchratings.com.
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