Two classes from two Ameriquest Mortgage Securities Inc. home equity issues have been downgraded and removed from Rating Watch Negative by Fitch Ratings.Class M2 of series 2002-C and class M-4 of series 2002-3 were downgraded from BBB-minus to B. In addition, Fitch affirmed the ratings on four classes from the two Ameriquest transactions. The downgrades were attributed to a deterioration in the relationship between credit enhancement and expected losses.

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