Forty-three classes from 10 alternative-A mortgage-backed securities deals have been downgraded by Fitch Ratings. The affected securities included the following: 18 classes from five Washington Mutual Mortgage deals; 14 classes from two GSC Capital Corp. Mortgage Trust deals; and 11 classes from three GSAA Home Equity Trust deals. Fitch also affirmed 30 classes in the alt-A transactions. The rating agency attributed the downgrades to expected defaults and losses from delinquent loans and projected losses from the currently performing pools. Fitch said it is nearing the completion of the first phase of a two-phase review of alt-A transactions issued in 2005, 2006, and 2007.
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