SABR MBS Classes Downgraded

Published August 13, 2007, 2:00 p.m. EDT

1 Min Read

Two classes of Securitized Asset Backed Receivables 2004-OP1 mortgage pass-through certificates have been downgraded by Fitch Ratings.Class B-2 was downgraded from BBB to BB-plus, and class B-3 was downgraded from BBB-minus to CCC/DR1. Fitch also affirmed the ratings on four other classes in the deal. The downgrades were attributed to a deterioration in the relationship between credit enhancement and expected losses. The collateral consists of closed-end, first- and second-lien subprime mortgage loans.

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