Fitch Downgrades More B&C Securities

Thirty-seven more classes of mortgage- and asset-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 more than $12 billion. The latest downgrades affect the following securities: 29 classes from six issues of Ameriquest Mortgage Securities mortgage pass-through certificates; six classes from two issues of Morgan Stanley mortgage pass-through certificates; and two classes from one issue of SG Mortgage Securities asset-backed 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." Fitch can be found online at http://www.fitchratings.com.