Two classes of Salomon Brothers Mortgage Securities VII Inc. mortgage pass-through certificates, series 2000-UP1, have been downgraded by Fitch Ratings.Class B-4 was downgraded from BB to B, and class B-5 was downgraded from CC to C. In addition, Fitch affirmed the ratings on 21 classes of Salomon mortgage-backed certificates. The downgrades were attributed to poor collateral performance and the deterioration of asset quality beyond original expectations. The transaction is collateralized by prime 30-year fixed-rate mortgage loans. Fitch can be found online at http://www.fitchratings.com.
Salomon MBS Classes Downgraded
August 29, 2005, 2:00 p.m. EDT 1 Min Read
