Class DB-4 of PNC Mortgage Securities Corp. series 1999-10 has been downgraded from B to B-minus by Fitch Ratings.In addition, the rating agency upgraded one class from the deal and affirmed the ratings on three other classes. The downgrade was attributed to an increasing threat of high delinquencies in relation to declining credit support provided by class DB-5 as a result of cumulative losses. Fitch can be found on the Web at http://www.fitchratings.com.
PNC MBS Class Downgraded
August 16, 2005, 2:00 p.m. EDT 1 Min Read
