Twenty-seven classes from six issues of CDC Mortgage Capital Trust and IXIS Real Estate Capital Trust subprime mortgage pass-through certificates have been downgraded by Fitch Ratings.Fitch also affirmed the ratings on 12 CDC and IXIS classes in the transactions. The downgrades were attributed to a deterioration in the relationship between credit enhancement and loss expectations. The collateral consists of 30-year fixed- and adjustable-rate subprime residential mortgage loans.

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