Five classes of mortgage pass-through certificates issued by Ace Securities Corp. have been downgraded by Fitch Ratings as a result of changes in the rating agency's subprime loss forecasting assumptions.The downgrades were as follows: Ace 2005-HE2, class B-1, from BB to C/DR3, and class B-2, from BB-minus to C/DR5; and Ace 2005-HE3, class M-9, from BB to BB-minus, class B-1, from BB-minus to B, and class B-2, from B-plus to C/DR5. Fitch also placed three classes from three Ace transactions on Rating Watch Negative and affirmed the ratings on 28 other classes.
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