Fitch Downgrades More B&C Classes

One hundred and eight additional classes of subprime mortgage pass-through certificates were downgraded by Fitch Ratings on April 15 as a result of changes to its subprime loss forecasting assumptions. Fitch also placed nine classes on Rating Watch Negative and affirmed the ratings on classes with outstanding balances of more than $4.6 billion. The pass-through securities affected by the latest downgrades were: 96 classes from 13 issues by Structured Asset Investment Loan; and 12 classes from two issues by Popular. 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.