In a series of related actions, Fitch Ratings has placed 38 classes from five first-loss collateralized debt obligations and ReREMICs on Rating Watch Negative.The affected securities were 14 classes from Ansonia CDO 2006-1 Ltd. and Ansonia CDO 2006-1 LLC, nine classes from G-Force 2005-RR2 LLC, eight classes from ARCap 2005-RR5 Resecuritization Inc., five classes from G-Force CDO 2006-1 Ltd./Corp., and two classes from ACT 2005-RR Depositor Corp. The negative rating actions were attributed to an analysis of loans in special servicing. Fitch said the collateral for the CDOs and Re-REMICs consists of "a high concentration of tranches with the least seniority" within a commercial mortgage-backed security transaction, and therefore the tranches are the first to absorb losses.

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