Twenty-one classes of mortgage pass-through certificates from various subprime Ameriquest Mortgage Securities Inc. transactions have been downgraded by Fitch Ratings. Fitch also placed six of the downgraded classes on Rating Watch Negative and affirmed the ratings on 74 other classes in 15 Ameriquest deals. The negative rating actions were based on a deteriorating relationship between credit enhancement and expected losses, the rating agency said. The collateral generally consists of fixed- and adjustable-rate subprime mortgage loans.
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