Class M-7 of Bear Stearns Asset-Backed Securities series 2005-2 has been placed on Rating Watch Negative by Fitch Ratings.In addition, Fitch affirmed the ratings on seven other classes in the deal. The Rating Watch placement reflects a deterioration in the relationship between excess spread and monthly losses, Fitch said. "Due to faster-than-expected prepayments, the dollar amount of excess spread has been less than expected and has not been sufficient to build the overcollateralization to its target amount," the rating agency said. Fitch can be found online at http://www.fitchratings.com.
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