Three classes of Salomon Brothers Mortgage Securities VII Inc., series 2002-CIT1, have been downgraded by Fitch Ratings.The downgrades were as follows: class M-3, from BBB to BB-plus; class M-4, from BB to B-minus/DR1; and class M-5, from BB-minus to B-minus/DR2. Fitch also affirmed the ratings on three other classes in the deal. The downgrades were attributed to deterioration in the relationship between credit enhancement and expected losses. The collateral for the transaction consists of first- and second-lien subprime mortgage loans.
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