CWMBS Class Downgraded

Published September 27, 2004, 2:00 p.m. EDT

1 Min Read

Class B4 of CWMBS (Countrywide Home Loans Inc.) mortgage pass-through certificates, series 1999-6 (Alt 1999-1), has been downgraded from B to CCC by Fitch Ratings and removed from Rating Watch Negative.In addition, Fitch has affirmed the ratings on 17 other CWMBS classes and removed the B4 classes of series 2001-21 (Alt 2001-10) and series 2002-13 (Alt 2002-8) from Rating Watch Negative. The downgrade was attributed to losses incurred and the level of nonperforming loans in relation to the applicable credit support.

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