One month after it disclosed pricing errors that shocked investors and industry observers, Credit Suisse Group warned Thursday that it will likely post a first quarter loss due to huge writedowns on debt securities, including MBS. Switzerland's second largest bank said it had written down $2.65 billion during the fourth quarter of last year and the first three months of 2008. Despite the pricing errors that forced it to restate fourth quarter results, a slew of new write-downs in March — coming as the secondary markets siezed up — are likely to blame for pushing the firm into the red. "Credit Suisse was profitable through the end of February," it said in a press statement. "However, in light of the difficult market conditions in March, at this time, Credit Suisse believes it is unlikely to be profitable in the first quarter." Should the firm post a quarterly loss, it would be the first since 2003. Shares in the company were down nearly 8 percent in pre-market trading on Thursday, to $46.09.