Fitch Downgrades More B&C Securities

Thirty more classes of mortgage-backed securities have been downgraded by Fitch Ratings as a result of changes to its subprime loss forecasting assumptions.Fitch also affirmed the ratings on classes with outstanding balances of approximately $9 billion. The latest downgrades affect the following securities: 13 classes from two issues of Soundview Home Equity Loan Trust asset-backed certificates; nine classes from three issues of Asset Backed Securities Corp. mortgage pass-through certificates; and eight classes from three issues of J.P. Morgan mortgage pass-through certificates. 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."