Moody's Eyes CSFB MBS Classes

Subordinate classes from two fixed-rate mortgage securitizations issued by Credit Suisse First Boston Mortgage Securities Corp. have been placed under review for possible downgrade by Moody's Investors Service.The affected tranches are class B from series 2002-9 group II and class M-1 from series 2002-19 group II, Moody's said. The rating agency attributed the actions to the fact that the bonds' credit enhancement levels -- including excess spread and interest-only classes -- "may be low" for the current rating level, given projected losses. The IO class for series 2002-9 matured recently and the IO class for series 2002-19 will mature in the near future, Moody's said. "We project that as each IO class matures, such group will again have positive excess spread to cover some losses," the rating agency said.