Seven classes of Credit Suisse First Boston Mortgage Securities Corp. commercial mortgage pass-through certificates, series 2005-CND2, have been placed on review for possible downgrade by Moody's Investors Service.The affected securities are classes G, H, J, K, L, M, and N. The rating actions were attributed to weakening market conditions for residential condominium conversions in South Florida and performance problems involving the Prestige Portfolio loan (9.5% of the pool), the Mizner Court at Broken Sound loan (3.4%), and the Monterra at Bonita Springs loan (1.9%). The pool contains seven loans (approximately 33.2% of the pool) that are secured by condominium conversion projects in South Florida, Moody's said.
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