Two classes of IndyMac Inc. mortgage-backed securities have been downgraded by Fitch IBCA Inc. The rating on IndyMac Inc.(CWMBS) Series 1994-L, Class B3 was lowered from BBB to BB and remains on RatingAlert with negative implications. The rating on Class B5 of the same series was lowered from CCC to D. Class B4 was downgraded to CCC on June 2. The actions stemmed from loss levels and high delinquencies in relation to available credit support, Fitch IBCA said. As of June 25, 1.10% of the pool was more than 90 days past due, and losses totaled $915,543, 0.46% of the initial 1994-L pool. Classes B3 and B4 have 0.75% and 0.01% of credit support, respectively, the rating agency said. Fitch IBCA's website address is http://www.fitchibca.com.
Processing Content
