Twelve classes of Structured Asset Securities Corp. residential mortgage-backed certificates have been downgraded by Fitch Ratings.The affected classes are part of eight SASCO transactions issued from 1998 to 2001. In addition, Fitch affirmed the ratings on 33 classes from the eight SASCO deals. The downgrades, affecting approximately $21.8 million of outstanding certificates, were attributed to "continuing high monthly pool losses, declining credit enhancement, and delinquency levels that pose imminent threat to certain of the more subordinates classes of certificates in these transactions." Fitch can be found online at http://www.fitchratings.com.
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