NYLIM CDO Classes Downgraded

Three classes of notes issued by NYLIM Stratford CDO 2001-1 Ltd., a collateralized debt obligation partly composed of commercial and residential mortgage-backed securities, have been downgraded by Fitch Ratings.In addition, the ratings on one other class was affirmed. Fitch attributed the downgrades to continued deterioration in the credit quality of the collateral.

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