2 CWMBS Classes Downgraded

Two classes of CWMBS (IndyMac) Inc.'s mortgage pass-through certificates have been downgraded by Fitch IBCA Inc. Class B4 of Series 1994-X, with approximately $1.5 million outstanding, was downgraded from BB to B, and Class B5 of that series, with approximately $460,000 outstanding, was downgraded from B to D, the rating agency said.Class B3 of the series was placed on RatingAlert Negative. Fitch IBCA attributed the rating actions to loss levels and high delinquencies relative to available credit support. As of the July 25 distribution, 15.64% of the pool was more than 90 days past due, and losses totaled about $2.6 million, 1.65% of the initial pool. Class B3 had 4.10% of credit support remaining, and class B4 had 0.96%. Fitch IBCA's website address is http://www.fitchibca.com.