Four classes of mortgage pass-through certificates from American Home Mortgage Investment Trust 2006-1 group 2 have been downgraded by Fitch Ratings.The downgrades were as follows: class II-M-2, from A to A-minus; class II-M-3, from BBB to BBB-minus; class II-M-4, from BB to B (and placed on Rating Watch Negative); and class II-M-5, from B to B-minus/DR2. Fitch also affirmed the ratings on two classes in the transaction. The negative rating actions were attributed to deterioration in the relationship between credit enhancement and loss expectations. The collateral for the deal consists of 5/1 adjustable-rate mortgage loans made to prime and alternative-A borrowers.
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