Fitch Downgrades More B&C Classes

More than 200 additional classes of subprime mortgage pass-through certificates were downgraded by Fitch Ratings on Feb. 15 as a result of changes to its subprime loss forecasting assumptions. Fitch also affirmed the ratings on classes with outstanding balances of more than $2.6 billion. The securities affected by the latest downgrades were: 138 classes from 13 Securitized Asset Backed Receivables LLC deals; 37 classes from three IXIS deals; 20 classes from two Wells Fargo Home Equity Trust deals; and 12 classes from one Centex deal. All were first-lien subprime transactions. The rating actions were attributed to changes to Fitch's subprime loss forecasting assumptions that "better capture the deteriorating performance of pools from 2006 and late 2005 with regard to continued poor loan performance and home price weakness." Fitch can be found online at http://www.fitchratings.com.