Three classes from three Amresco Residential Securities Corp. transactions have been downgraded by Fitch Ratings.The downgrades were as follows: series 1998-1 group 1, class M-2F, from A to BBB; series 1998-3 group 1, class B-1F, from BBB to BB; and series 1999-1, class B, from BBB-minus to BB. The downgrades were attributed to a deterioration in the relationship between credit enhancement and loss expectations. The certificates are backed by conventional fixed- and adjustable-rate mortgage loans.
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