Ameriquest HEL Class Downgraded

Published December 04, 2006, 3:00 p.m. EST

1 Min Read

Class M2 of Ameriquest Mortgage Securities Inc. series 2002-C has been downgraded from B to CC/DR4 by Fitch Ratings, and two classes from another AMSI home equity issue have been placed on Rating Watch Negative.Classes M5 and M6 of series 2003-6 were placed on watch. In addition, Fitch affirmed the ratings on seven classes from the two Ameriquest transactions. The negative rating actions were attributed to monthly losses that have generally exceeded excess spread and caused a deterioration in the amount of overcollateralization.

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