RASC HEL Classes Downgraded

January 11, 2005, 3:00 p.m. EST 1 Min Read

Two classes of Residential Asset Securities Corp. home equity transactions have been downgraded by Fitch Ratings and removed from Rating Watch Negative.Class M-I-3 of RASC series 2001-KS2 group 1 was downgraded from BBB to BB, and class M-I-3 of RASC series 2001-KS3 group 1 was downgraded from BBB to BBB-minus. The rating actions were attributed to a decline in overcollateralization caused by monthly losses that exceeded monthly excess interest.

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