Two classes of Credit Suisse First Boston Mortgage Securities Corp. commercial mortgage pass-through certificates, series 2001-CK3, have been downgraded by Moody's Investors Service.Class K was downgraded from B1 to B2, and class N was downgraded from Ca to C. In addition, Moody's upgraded four classes in the deal and affirmed the ratings of eight classes. The downgrades were attributed to realized losses and dispersion in loan-to-value ratios. Moody's said 29.7% of the conduit pool has an LTV greater than 100%, compared with 15.1% at the last review and 2.0% at securitization. Moody's can be found online at http://www.moodys.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