Two classes of BCF LLC mortgage-pass through certificates, series 1997-R2, have been downgraded by Fitch Ratings.Class B-4 was downgraded from BB to B-minus, and class B-5 was downgraded from B to C. In addition, Fitch affirmed the ratings on 10 other classes in the transaction. The rating agency said the deal consists of three mortgage groups, each of which has component certificate classes B4 and B5. Mortgage group 2 has the poorest performance, and therefore its components determine the ratings for the total class, Fitch said. The downgrades were attributed to the performance of classes 2B-4 and 2B-5, in which 55.3% of the loans are 60-plus days delinquent, according to the rating agency.
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