Two classes of Merit Securities Corp. residential mortgage-backed securities series 12-1 have been downgraded by Fitch Ratings.Class 3A-1 was downgraded from AAA to AA, and class B-2 was downgraded from A to BBB. The rating on one other class in the transaction was affirmed. Fitch said the downgrades reflect a continued deterioration in the relationship between credit enhancement and expected loss levels. The collateral consists of conventional first-lien mortgage loans and manufactured housing installment sales contracts. Fitch can be found online at http://www.fitchratings.com.
Merit MH Classes Downgraded
April 04, 2006, 2:00 p.m. EDT 1 Min Read
