Three classes of J.P. Morgan Alternative Loan Trust securitizations have been downgraded by Fitch Ratings.The downgrades were as follows: J.P Morgan Alternative Loan Trust 2006-A1 pools 2-5, class C-B-1, from AA to AA-minus; class C-B-2, from A to BBB-plus; and class C-B-3, from BBB to CBB-minus. Fitch also placed four classes from two other J.P. Morgan Alternative Loan Trust deals on Rating Watch Negative and affirmed the ratings on 11 other classes. The negative rating actions were attributed to deterioration in the relationship between credit enhancement and expected losses. The collateral for the deals consists primarily of first-lien alt-A mortgage loans.
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