Fitch Eyeing CS First Boston MBS

The B ratings on classes F-1 and F-2 of CS First Boston Mortgage Securities Corp.'s multifamily mortgage pass-through certificates, Series 1995-M1 have been placed on RatingAlert Negative by Fitch IBCA Inc. The ratings on five other classes in the series were affirmed.The rating agency said the actions resulted from deteriorating performance by the pool and Fitch IBCA's concern about five delinquent loans that are being specially serviced by GE Capital Realty Group. The pool consists of 26 multifamily mortgage loans that have been allocated low-income housing tax credits, 15 of which have performed poorly, Fitch IBCA said. Based on discussions with GE Capital and the master servicer, GMAC Commercial Mortgage Corp., the rating agency attributed the poor performance to several factors, including the limited number of qualifying tenants and above-average turnover and maintenance expenses. Fitch IBCA's website address is http://www.fitchibca.com.