Long Beach RMBS Class Downgraded

May 21, 2004, 2:00 p.m. EDT 1 Min Read

Class BF of Long Beach Mortgage Loan Trust series 2000-LB1, group 1, has been downgraded from BBB to BB-minus and removed from Rating Watch Negative by Fitch Ratings.In addition, Fitch affirmed the ratings on 13 classes in two Long Beach residential mortgage-backed securities deals. The downgrade was attributed to high loss levels and depletion of overcollateralization. Fitch can be found on the Web at http://www.fitchratings.com.

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