Classes M and N of Credit Suisse First Boston’s commercial mortgage pass-through certificates series 2005-CND2 have been placed on Rating Watch Negative by Fitch Ratings.The rating actions were taken due to concerns about a lack of sales as a result of market conditions at the properties securing the Prestige Portfolio (representing 9.81% of the pool), Monterra at Bonita Springs (1.96%), and Mizner Court (3.51%) loans. All the properties experiencing deteriorating market conditions are located in Florida, where there is an oversupply of condominiums, Fitch said. The rating agency can be found on the Web at http://www.fitchratings.com.
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