JPMorgan Alt-A MBS Classes Downgraded

Eight classes from three J.P. Morgan Alternative Loan Trust securitizations have been downgraded by Fitch Ratings.The downgrades were as follows: series 2006-A2 pools 2-5, class C-B-3, from BBB to BBB-minus, class C-B-4, from BB to B, and class C-B-5, from B to C/DR5; series 2006-A3 pools 2-3 (aggregate pool A), class C-B-4, from BB to B-plus, and class C-B-5, from B to C/DR5; and series 2006-S1 pools 1-2, class B-3, from BBB to BBB-minus, class B-4, from BB to B-plus, and class B-5, from B to CCC/DR2. Fitch also affirmed the ratings on 20 classes from five J.P. Morgan Alternative Loan Trust deals. The downgrades were attributed to a deterioration in the relationship between credit enhancement and loss expectations. The collateral for the deals consists primarily of first-lien alternative-A mortgage loans.