Class B of the CSFB 2004-CF1 mortgage transaction has been placed on review for possible downgrade by Moody's Investors Service.The amount of the deal's available credit enhancement has been reduced from losses and step-down, Moody's said. "The timing of losses, coupled with passing of performance triggers, has caused the protection available to the subordinate bonds to be diminished," the rating agency said. The collateral backing the deal consists primarily of first-lien, fixed- and adjustable-rate scratch-and-dent mortgage loans.
Processing Content
