Fitch Eyes Mid Ocean CBO Classes

Published May 11, 2005, 2:00 p.m. EDT

1 Min Read

Four classes of notes issued by Mid Ocean CBO 2000-1 Ltd. have been placed on Rating Watch Negative by Fitch Ratings.The affected securities are classes A-1L, A-2, A-2L, and B-1. Fitch said the transaction, a collateralized debt obligation managed by Deerfield Capital Management, is composed of residential mortgage-backed securities, commercial MBS, asset-backed securities, and CDOs. The rating agency attributed the watchlist placement to deteriorating collateral quality that has caused overcollateralization to decline.

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