Four classes of notes issued by Oceanview CBO I Ltd. have been placed on Rating Watch Negative by Fitch Ratings.The affected securities are classes A-2, B-F, B-V, and C. The transaction, a collateralized debt obligation managed by Deerfield Capital Management, is supported by a diversified portfolio of residential mortgage-backed securities, CDOs, commercial MBS, asset-backed securities, corporate debt, and real estate investment trusts, according to the rating agency. Fitch attributed the watchlist placement to deteriorating collateral quality that has reduced overcollateralization. Fitch can be found online at http://www.fitchratings.com.

Subscribe Now

Authoritative analysis and perspective for every segment of the mortgage industry

30-Day Free Trial

Authoritative analysis and perspective for every segment of the mortgage industry