Four classes of mortgage pass-through certificates from Structured Asset Investment Loan series 2003-BC 2 have been downgraded by Fitch Ratings.The downgrades were as follows: class M-1, from A to BBB-minus (and placed on Rating Watch Negative); class M-2, from BBB-plus to B-minus/DR1; class M-3, from BBB-plus to B-minus/DR1; and class B, from BBB-minus to B-minus/DR2. Fitch also affirmed the triple-A rating of class A. The negative rating actions were based on deterioration in the relationship between credit enhancement and expected losses, the rating agency said.
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