Nearly 100 classes of subprime mortgage pass-through certificates from seven issuers have been downgraded by Fitch Ratings. The affected securities were as follows: 31 classes from 10 Lehman-related deals; 25 classes from eight Credit Based Asset Servicing and Securitization LLC deals; 11 classes from three Asset Back Funding Corp. deals; 10 classes from three Residential Funding Mortgage Securities II deals; nine classes from four GE Capital home equity deals; seven classes from five Saxon deals; and three classes from one Fremont Home Loan Trust deal. Fitch also placed four classes on Rating Watch Negative and affirmed the ratings on over 130 classes from more than 60 subprime transactions.
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