Eight classes from two Residential Asset Securities Corp. home equity transactions have been downgraded by Fitch Ratings.The downgrades were as follows: RASC series 2001-KS2 group 1, class M-I-1, from AA-minus to A-minus, class M-I-2, from A-minus to BBB, and class M-I-3, from B to CC (and assigned a distressed recovery rating of DR4); RASC series 2001-KS3 group 1, class M-I-1, from AA-minus to A-minus, class M-I-2, from A-minus to BBB, and class M-I-3, from B to CCC (and assigned a distressed recovery rating of DR2); and RASC series 2001-KS3 group 2, class M-II-2, from A to BBB, and class M-II-3, from BBB to BB. Fitch also affirmed the ratings on 10 classes from the two deals. The downgrades were attributed to the "potential negative impact" of loan performance on the bonds. Fitch can be found online at http://www.fitchratings.com.
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