Three classes of Salomon Brothers Mortgage Securities VII Inc. series 2000-C2 have been downgraded by Fitch Ratings.The downgrades were as follows: class J, from BB to BB-minus; class K, from B to B-minus/DR1; and class L, from CCC/DR3 to C/DR5. In addition, three classes were upgraded and the ratings on six other classes in the deal were affirmed. Fitch attributed the downgrades to an increase in projected losses on several specially serviced loans. (Distressed Recovery ratings range from DR1, the highest, to DR6 to designate a transaction's recovery prospects.) The rating agency can be found online at http://www.fitchratings.com.

Subscribe Now

Authoritative analysis and perspective for every segment of the mortgage industry

30-Day Free Trial

Authoritative analysis and perspective for every segment of the mortgage industry