Three classes of GE Capital home equity loan pass-through certificates have been downgraded by Fitch Ratings.The downgrades were as follows: series 1997-HE4, class B1, from BB to B; series 1999-HE1, class B2, from BB to CCC and removed from Rating Watch Negative; and series 1999-HE3, class B3, from B to CCC and removed from Rating Watch Negative. In addition, Fitch affirmed the ratings on 22 certificates from eight GE Capital HEL transactions. The downgrades were attributed to loss levels and high delinquencies in relation to the applicable credit support. Fitch can be found online at http://www.fitchratings.com.
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