Two classes of IndyMac ABS Inc. Home Equity issues have been downgraded by Fitch Ratings.Class B-1 of series SPMD 2002-B Total Groups 1 & 2 was downgraded from BB to B, and class B-2 was downgraded from BB-minus to C/DR5. In addition, the ratings on 45 classes in four IndyMac ABS deals were affirmed, Fitch said. The rating agency attributed the downgrades to a deterioration in the relationship between credit enhancement and expected losses. The collateral in the deals consists of fixed- and adjustable-rate subprime residential loans.
Fitch Downgrades IndyMac ABS Classes
July 02, 2007, 2:00 p.m. EDT 1 Min Read
