Four classes of Impac Secured Assets Corp. mortgage pass-through certificates, issued by Impac Funding Corp., have been downgraded by Fitch Ratings.The downgrades were as follows: series 2000-1, class B-1, from B to CCC, and class B-2, from CC to C; series 2000-3, class M-3, from CCC to C; and series 2001-6 pool 1, class B, from BBB to BB. In addition, Fitch upgraded 28 classes from 15 Impac securitizations and affirmed the ratings on 66 classes from 24 Impac deals. The rating agency attributed the downgrades to poor collateral performance and the deterioration of asset quality beyond original expectations. Fitch can be found online at http://www.fitchratings.com.
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