CWMBS Classes Downgraded

Eight classes in five CWMBS Countrywide Home Loans mortgage pass-through deals have been downgraded by Fitch Ratings, and five have been placed on Rating Watch Negative.The downgrades were as follows: class B-4 of CWMBS 2000-2, from B to CCC; class B-3 of CWMBS 2000-4 (Alt 2000-1), from BB to BB-minus and placed on Rating Watch Negative; class B-4 of CWMBS 2000-4 (Alt 2000-1), from B to C; class B-3 of CWMBS 2001-4 (Alt 2001-3), from BB to B and placed on Rating Watch Negative; class B-4 of CWMBS 2001-4 (Alt 2001-3), from B to D; class B-4 of CWMBS 2001-8 (Alt 2001-5), from B to CC; class B-3 of CWMBS 2001-14, from BB to B and placed on Rating Watch Negative; and class B-4 of CWMBS 2001-14, from B to C. In addition, the B-3 classes of CWMBS 2000-2 and 2001-8 (Alt 2001-5) were placed on Rating Watch Negative. The rating agency said the actions stemmed from loss levels and high delinquencies relative to the applicable credit support levels. Fitch's website address is http://www.fitchratings.com.