Merrill Lynch MBS Class Downgraded

Class B3 of Merrill Lynch Mortgage Investors series 2004-HE1 has been downgraded from BBB-minus to B and removed from Rating Watch Negative by Fitch Ratings.Fitch also placed class B2 of the series on Rating Watch Negative and affirmed the ratings on three other classes in the deal. The negative rating actions were based on a deterioration in the relationship between credit enhancement and loss expectations. The collateral consists of first- and second-lien subprime mortgage loans.