Fitch Downgrades CDC MBS Classes

Published March 09, 2006, 3:00 p.m. EST

1 Min Read

Three classes from three issues of CDC Mortgage Capital Trust mortgage pass-through certificates have been downgraded by Fitch Ratings.The downgrades were as follows: series 2002-HE2, class B-2, from BB to B-plus; and series 2002-HE3, class B-1, from BBB-minus to BB-minus, and class B-2, from BB-plus to B-plus. In addition, Fitch affirmed the ratings on eight classes from three CDC deals. The rating agency attributed the downgrades to a deterioration in the relationship between credit enhancement and expected losses. The pools consist of fixed- and adjustable-rate subprime mortgages for one- to four-family residential properties.

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