Three classes of BCF LLC mortgage pass-through certificates have been downgraded by Fitch Ratings, and two others have been placed on Rating Watch Negative.The downgrades were as follows: series 1997-R1, class B2, from BBB-plus to BB-plus; series 1997-R2 group 3, class 3-B5, from CCC to C; and series 1997-R3, class B2, from BBB to BB. Class 2-B4 of series 1997-R2 group 2 and class 3-B4 of series 1997-R2 group 3 were placed on Rating Watch Negative. In addition, the ratings on 18 other classes in five BCF deals were affirmed. Fitch attributed the downgrades to loss levels and high delinquencies in relation to the applicable credit support. The rating agency can be found online at http://www.fitchratings.com.
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