Four classes of Bear Stearns Asset Backed Securities Inc., series 1999-1, have been downgraded by Fitch Ratings.The downgrades were as follows: class MF-1, from AA-plus to AA-minus; class MF-2, from A-plus to BBB-plus; class BF, from BB-minus to CCC; and class BV, from BB to B-plus. Fitch attributed the downgrades to high delinquencies and deteriorating credit support. The securitization is backed by fixed-rate and adjustable-rate subprime mortgage loans.
Bear Stearns MBS Classes Downgraded
April 17, 2006, 2:00 p.m. EDT 1 Min Read
