Two classes of IndyMac ABS Inc. home equity securities have been downgraded by Fitch Ratings. Class B of series SPMD 2001-C was downgraded from CCC/DR1 to CC/DR3, and class M-10 of series SPMD 2004-B was downgraded from BBB-minus to BB-plus. Fitch also affirmed the ratings on 13 classes in the two deals. The downgrades were attributed to deterioration in the relationship between credit enhancement and expected losses. The rating agency can be found online at http://www.fitchratings.com.
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