More than 150 additional classes of subprime mortgage-backed securities were downgraded by Fitch Ratings on May 1. Fitch also affirmed the ratings on classes with outstanding balances of approximately $7.5 billion. The securities affected by the latest downgrades were: 38 classes from 18 issues by Ameriquest Mortgage Securities Inc.; 37 classes from six issues by Park Place Securities Inc.; 36 classes from 17 issues by Residential Asset Securities Corp.; 24 classes from seven issues by Ace Securities Corp.; and 17 classes from nine issues by Argent Securities Inc.
Processing Content
