Three classes of notes issued by Enhanced Mortgage Backed Securities Fund III Ltd. have been downgraded by Fitch Ratings and withdrawn. The downgrades were as follows: class A-3, from B-minus to C/DR4; class A-4, from CCC to C/DR6; and the preference shares, from CCC to C/DR4. "These actions reflect EMBS III's portfolio liquidation," Fitch said. ".... The class A-3 notes are expected to receive approximately 40% of note value at the end of September. Class A-4 will not receive any principal payments."
Processing Content
