Two classes from Amresco's series 1997-3 mortgage-backed securities issue have been downgraded by Fitch Ratings.Class M-2F of Amresco series 1997-3, group 1, was downgraded from A to BBB, and class B-1F was downgraded from BB to C and removed from Rating Watch Negative. In addition, Fitch upgraded two classes and affirmed the ratings on 27 classes from various Amresco issues. The rating agency said the downgrades are due to mounting collateral losses that have depleted credit enhancement. Fitch can be found online at http://www.fitchratings.com.
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