Forty-nine more classes of subprime 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 $8 billion. Among the securities affected by the latest downgrades were: 14 classes from two issues of IXIS mortgage pass-through certificates; 10 classes from three issues of Soundview Home Equity Loan Trust asset-backed certificates; seven classes from two issues of Citigroup Mortgage Loan Trust mortgage pass-through certificates; and seven classes from three issues of HSI Asset Securitization Corp. 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." Fitch can be found online at http://www.fitchratings.com.
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