Two classes of Industry Mortgage Co.'s series 1998-1 securitization have been downgraded by Fitch Ratings.The downgrades were as follows: class M-2, from A-plus to BBB-minus; and class B, from BB-minus to B-minus. Fitch also affirmed the ratings on three other classes in the deal. The rating agency attributed the downgrades 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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