Ten classes from five Long Beach Mortgage Co. asset-backed securities deals have been downgraded by Moody's Investors Service.The downgrades from Long Beach Home Mortgage Loan Trust Asset-Backed Certificates were as follows: series 2000-1, class M-2, from A2 to Baa3, and class M-3, from Baa1 to B2; series 2001-1, class M-2, from A2 to Baa2, and class M-3, from Baa1 to B1; series 2001-2, class M-2, from A2 to Baa2, and class M-3, from Baa2 to B2; series 2001-3, class M-2, from A2 to Baa2, and class M-3, from Baa2 to B1; series 2001-4, class M-2, from A2 to Baa1, and class M-3, from Baa2 to Ba3. The downgrades were attributed to inadequate credit enhancement given projected losses, and loss levels that have exceeded excess spread and eroded overcollateralization. Moody's can be found on the Web at http://www.moodys.com.
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