Two classes of Structured Asset Security Corp. residential mortgage-backed certificates have been downgraded by Fitch Ratings.Class B4 of series 2005-S1 was downgraded from CC/DR4 to C/DR5, and class B2 of series 2005-S2 was downgraded from BB to B and removed from Rating Watch Negative. Fitch also placed class B3 of series 2005-S1 on Rating Watch Negative and affirmed the ratings on 23 classes in the two SASCO transactions. The downgrades were attributed to a deterioration in the relationship between credit enhancement and expected losses. The pool consists of fixed-rate, fully amortizing and balloon, second-lien residential mortgage loans.
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