More than 200 additional 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 nearly $9 billion. Among the mortgage pass-through certificates affected by the latest downgrades were: 70 classes from nine Structured Asset Securities Corp. issues; 27 classes from two SACO issues; 23 classes from three Terwin issues; 21 classes from four Credit Suisse First Boston Home Equity Asset Trust issues; 19 classes from two Countrywide issues; 17 classes from one Fremont Home Loan Trust issue; and 15 classes from two GS Mortgage Securities Corp. issues. 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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