Two classes of CWMBS (Countrywide Home Loans Inc.) mortgage pass-through certificates, series 1999-13 (Alt 1999-2), have been downgraded by Fitch Ratings and two others have been placed on Rating Watch Negative.The downgrades were as follows: class B3, from BB to CCC, and class B4, from B to C. The B4 classes of series 2001-21 (Alt 2001-10) and series 2002-13 (Alt 2002-8) were placed on Rating Watch Negative. The rating agency also upgraded 21 classes and affirmed the ratings on 11 other classes in six transactions. Fitch attributed the negative rating actions to loss levels and loss expectations relative to the applicable credit support.
Processing Content
