Two classes of Merrill Lynch Mortgage Investors Trust series 2006-SL2 have been downgraded by Fitch Ratings.Class B1 was downgraded from BB-plus to B-plus and placed on Rating Watch Negative, and class B2 was downgraded from BB to B and placed on Rating Watch Negative. In addition, Fitch placed class M9 on Rating Watch Negative. The negative rating actions were based on a deterioration in the relationship between credit enhancement and loss expectations, Fitch said. The rating agency said the transactions are backed by fixed-rate, closed-end second-lien residential mortgages.
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