Fifteen classes from seven Delta Funding Corp. home equity issues have been downgraded by Fitch Ratings.In addition, Fitch upgraded four classes and affirmed the ratings on 27 classes from 11 Delta Funding transactions. The downgrades were attributed to high delinquencies and a deterioration of credit enhancement. The collateral in the deals consists of fixed- and adjustable-rate, first- and second-lien subprime residential mortgage loans.

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