Class BF of Bear Stearns asset-backed certificates series 1999-2 group 1 has been downgraded from CCC to C by Fitch Ratings.In addition, Fitch affirmed the ratings on nine other classes in the securitization. The downgrade was attributed to poor collateral performance, losses incurred, and loss expectations in relation to credit support levels. Series 1999-2 is backed by fixed-rate (group 1) and adjustable-rate (group 2) loans originated by Conseco Finance Corp., Amresco Residential Mortgage Corp., and five other originators, the rating agency said. Fitch can be found on the Web at http://www.fitchratings.com.
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