Fitch Downgrades $260MM of Second-lien Tranches

Fitch Ratings, New York, has downgraded six classes totaling $51.4 million of UBS Mortgage Securitization Inc., Series 2005-1, while separately downgrading $109.1 million from two classes on ACE Securities Corp., ACE 2006-SL2. For both transactions, Fitch said the move was related to deterioration in the relationship between credit enhancement and expected losses and reflect continued poor loan performance and home price weakness. The UBS transaction has realized losses to date of 10.06% of the original balance, with expected remaining losses of 42.04% of the current balance. For the ACE transaction, the realized losses to date are 15.78% of the original balance, with expected remaining losses of 57.50% of the current balance. To see more information, visit, http://www.fitchratings.com.