Bear Stearns MBS Class Downgraded

Published October 10, 2006, 2:00 p.m. EDT

1 Min Read

Class B-4 of Bear Stearns Mortgage Securities Inc. mortgage pass-through certificates, series 1997-6 FRM pool, has been downgraded from CC to C by Fitch Ratings and its distressed recovery rating has been lowered from DR3 to DR4.In addition, three classes in another Bear Stearns deal were upgraded and the ratings on 11 classes in three transactions were affirmed. The downgrade reflects a deterioration in the relationship between the credit enhancement and expected losses, Fitch said.

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