Classes G and H of Merrill Lynch Mortgage Investors Inc. mortgage pass-through certificates, series 1999-C1, have been downgraded by Fitch Ratings, and class F has been placed on Rating Watch Negative.Class G was downgraded from B to B-minus/DR1, and class H was downgraded from CC/DR3 to C/DR5. The rating agency also affirmed its ratings on six other classes in the deal. The negative rating actions "are due to expected losses on the assets in special servicing (11.4%), in addition to the uncertainty surrounding the timing of the disposition of assets that have been in special servicing for over 24 months," Fitch said.
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