Two classes of PNC Mortgage Securities Corp. mortgage pass-through certificates have been downgraded and removed from Rating Watch Negative by Fitch Ratings.Class DB5 of series 2000-8 group 3&4 was downgraded from B to CC, and class IB5 of series 1998-5 group 1 was downgraded from B to CCC. In addition, two classes of PNC series 2000-8 group 1&2 were upgraded, and the ratings on 23 classes in four transactions were affirmed. The downgrades were attributed to expected reductions in credit enhancement. Fitch can be found on the Web at http://www.fitchratings.com.
PNC MBS Classes Downgraded
February 17, 2004, 3:00 p.m. EST 1 Min Read
