Six certificates from three subprime deals issued by Countrywide Home Loans Inc. in 2002 and 2003 have been placed under review for possible downgrade by Moody's Investors Service.The affected securities are as follows: CWABS Inc. Asset-Backed Certificates, series 2002-BC2, classes M-2 and B-1; series 2003-BC1, classes M-2 and B-1; and series 2003-BC2, classes M-3 and B-1. The negative rating actions were attributed to credit enhancement levels that may be low given the projected losses on the underlying pool. The transactions are backed by first-lien, fixed-rate subprime mortgage loans.
Processing Content
