Two classes of Amortizing Residential Collateral mortgage pass-through certificates have been downgraded by Fitch Ratings.Class M1 of series 2001-BC5 was downgraded from BB-plus to CCC/DR2, and class M9 of series 2004-1 was downgraded from BB-plus to CCC/DR1. In addition, class M8 of series 2004-1 was placed on Rating Watch Negative, and the ratings on nine other classes in the two transactions were affirmed. The negative rating actions reflect deterioration in the relationship between credit enhancement and expected losses, Fitch said.
Processing Content
