Four classes of notes issued by MKP CBO I Ltd., a collateralized debt obligation partly composed of residential and commercial mortgage-backed securities, have been downgraded by Fitch Ratings.The downgrades were as follows: class A-1L, from AA-minus to A-minus; class A-2L, from BBB-minus to BB; class B-1A, from B-plus to B-minus; and class B-1L, from B-plus to B-minus. The four classes remain on Rating Watch Negative. Fitch attributed the downgrades to declining overcollateralization ratios and the "continued negative impact" of the CDO's interest rate hedge. The CDO consists of RMBS, CMBS, and commercial and consumer asset-backed securities, the rating agency said. Fitch can be found online at http://www.fitchratings.com.
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