Two classes of Metropolitan Asset Funding residential mortgage-backed securities, series 1998-B, have been downgraded by Fitch Ratings.Class B1 was downgraded from BBB to BB-minus and removed from Rating Watch Negative, and class B2 was downgraded from B-minus to CC, the rating agency said. In addition, the ratings on four other classes in the deal were affirmed. Fitch said the downgrades stemmed from higher-than-expected loss levels that have resulted in the depletion of overcollateralization. The rating agency can be found online at http://www.fitchratings.com.
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