110 Countrywide Alt-A Classes Downgraded

One hundred and ten classes of residential mortgage-backed securities from 28 alternative-A securitizations issued by Countrywide have been downgraded by Fitch Ratings.Fitch also placed 12 CWALT classes on Rating Watch Negative, removed 18 classes from Rating Watch Negative, and affirmed the ratings on 69 classes. The negative rating actions were attributed to deterioration in the relationship between credit enhancement and expected losses. The collateral consists primarily of 30- and 15-year fixed-rate, first-lien alt-A mortgage loans.