Salomon MBS Classes Downgraded

Published December 22, 2003, 3:00 p.m. EST

1 Min Read

Two classes from Salomon Brothers Mortgage Securities VII Inc.mortgage pass-through certificates, series 1997-HUD1 and 1997-HUD2, have been downgraded by Fitch Ratings.Class B-4 of series 1997-HUD1 was downgraded from B to CCC, and class B-3 of series 1997-HUD2 was downgraded from BBB-minus to BB. Fitch also affirmed the ratings on seven other classes in the two deals. The downgrades reflect credit enhancement levels relative to future loss expectations, the rating agency said. Fitch can be found online at http://www.fitchratings.com.

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