Two classes from two Ameriquest Mortgage Securities Inc. home equity issues have been placed on Rating Watch Negative by Fitch Ratings.The affected securities are class M2 of series 2002-C and class M-4 of series 2002-3. In addition, Fitch upgraded 22 classes from eight Ameriquest transactions and affirmed the ratings on 89 classes from 24 deals. The negative actions were attributed to a deterioration in the relationship between credit enhancement and expected losses, the rating agency said.

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