Remodelers ABS Class Downgraded

Class B of Remodelers Home Improvement Loan asset-backed certificate series 1995-2 has been downgraded from BBB to BB by Fitch Ratings.The rating agency attributed the downgrade to elevated credit risk caused by a low collateral balance of $460,000 and the smaller number of loans (60) remaining in the trust, which increases the volatility of the transaction. The loans were originated or acquired by Remodelers Home Improvement, which was later acquired by FirstPlus Financial, a consumer finance company that has since been liquidated, Fitch said.