Countrywide RMBS Classes Downgraded

October 31, 2007, 3:00 p.m. EDT 1 Min Read

Fifty-nine classes from 13 Countrywide residential mortgage-backed securities deals issued in 2005 and 2006 have been downgraded by Fitch Ratings.Fitch also affirmed the ratings on 32 classes from the CWALT transactions. The downgrades were attributed to a deterioration in the relationship between credit enhancement and loss expectations. The collateral for the transactions consists primarily of 30- and 15-year fixed-rate mortgage loans to alternative-A borrowers. Fitch can be found on the Web at http://www.fitchratings.com.

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