Nine classes of variable-rate notes issued by Abacus 2006-NS1 Ltd., a collateralized debt obligation referencing commercial mortgage-backed securities and others, have been placed on review for possible downgrade by Moody's Investors Service. The affected securities are classes B through H and classes J and K. Moody's also affirmed one class in the CDO, which references a portfolio of synthetic CMBS and commercial real estate CDO securities. The negative rating actions were attributed to a deteriorating pool performance. As of the June 30 distribution date, the transaction consisted of 57 classes of CMBS from 57 separate deals and 13 classes of CRE CDO securities from 13 separate deals, Moody's said.
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