Four classes of Salomon Brothers Mortgage Securities VII Inc. mortgage pass-through certificates have been downgraded by Fitch Ratings.The downgrades were as follows: series 2000-UP1, class B-5, from CCC to CC; and series 2001-UP2 group 2, class BV-3, from BBB to BBB-minus; class BV-4, from B-plus to CCC; and class BV-5, from CCC to CC. In addition, Fitch upgraded six classes and affirmed the ratings on 23 classes from three Salomon deals. Fitch attributed the downgrades to poor collateral performance and the deterioration of asset quality beyond original expectations. The rating agency can be found online at http://www.fitchratings.com.
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