Two classes of the BCF LLC 1997-R3 residential mortgage-backed securities deal have been downgraded by Fitch Ratings, and one of them has been removed from Rating Watch Negative.Class B2 was downgraded from A-minus to BBB and removed from Rating Watch Negative, and class B3 was downgraded from C to D (default). The ratings on two other classes in the deal were affirmed. Fitch said the actions were based on loss levels and high delinquencies relative to applicable credit support as of the November distribution.
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